ESBATech Closes $41M Series B Venture Financing

Group of New Investors in US and Europe leads new Round B Venture Capital Financing in ESBATech AG, a Zurich-based biotechnology company that develops antibody-fragment therapeutics.

ESBATech AG recently announced the closing of its Series B financing round. The USD 41Mfinancing round was led by a worldwide group of new investors representing the US and Europe, including SV Life Sciences, HBM BioVentures and HBM BioCapital. Clarus Ventures who invested $60 million in May in Series C financing in Aerovance Inc., another biopharmaceutical company, also joined this investment.

Series A investors Novartis Venture Fund, BioMedinvest and VI Partners also participated in this round.

Dominik Escher Ph.D., CEO of ESBATech AG, commented: “Attracting this global blue chip investors group is another important validation of ESBATech’s antibody-fragment technology, product pipeline, management team and business strategy. This financing round enables us to further develop and advance our lead product, ESBA105, in several inflammatory indications to completion of clinical Phase IIa and to progress additional antibody fragment candidates into clinical development over the next three years.”

Graham Boulnois Ph.D., Partner with SV Life Sciences commented: “ESBATech has built an attractive human antibody fragment platform with a strong intellectual property position. This platform fits well into the broader therapeutic antibody space and will provide a pipeline of commercially attractive, new drugs based on stable antibody fragments derived from fully human scaffolds. It also provides a significant opportunity for partnering. We are delighted to be working with the Company and the other investors to build a leading company in this exciting area.”

Michael Steinmetz Ph.D., Managing Director of Clarus Ventures, added: “Antibody fragments are an emerging therapeutic tool with substantial and continuously increasing commercial potential. We are particularly attracted by ESBATech’s unique approach which generates highly stable antibody fragments derived from fully human scaffolds. ESBATech is well-positioned as a leader in this exciting emerging market.”