Orbimed invests in cCam Biotherapeutics

Oncology drug development company cCam Biotherapeutics increased its first financing round to $5 million.

Oncology drug development company cCam Biotherapeutics Ltd. has expanded its first financing round to $5 million with an investment from OrbiMed Israel Partners. Arkin Holdings led the round, and was joined by Pontifax. $3.25 million of the investment is in milestone payments, in exchange for shares and warrants in the company. The investment is in addition to $1 million invested by F.Hoffmann La Roche AG (SWX: ROG) in exchange for extending its agreement to negotiate a commercialization agreement for cCam's technology.

cCam's lead agent, CM-10, is an immunomodulatory humanized monoclonal antibody that harnesses the patient's immune system to attack tumors with a cancer specific immune response. The drug is in the preclinical stage, with melanoma as its lead indication.

cCam is a portfolio company of Meytag Technology Incubator, owned by Gefen Biomed Investements Ltd. (TASE: GEFEN). When the investment is completed, Gefen will own 22% of cCam through Meytag.

cCAM CEO Dr. Tehila Ben Moshe said, "We are very pleased to expand our circle of industry-leading investors. With our series A complete, we are in a position to advance our lead antibody through a proof of concept study in humans."

Published by Globes [online], Israel business news - www.globes-online.com - on September 19, 2012

© Copyright of Globes Publisher Itonut (1983) Ltd. 2012

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