Israeli drug discovery company Biond Biologics Ltd. today announced the closing of a $17 million Series B financing round led by Israel Biotech Fund and Harel Insurance & Finance Group, with participation of Celgene Corporation, the Japanese-Israeli fund, SBI JI Innovation Fund and existing investors.
Based in Misgav in northern Israel, Biond Biologics is a biotechnology company, developing novel immunotherapies for cancer and autoimmune diseases.
Biond was founded in 2016 by the former scientific team of cCam Biotherapeutics, an immuno-oncology company which was fully acquired by Merck in July 2015. The former cCAM Biotherapeutics team was joined by additional veterans of the Israeli biotech industry, with the aim to build a strong, sustainable and innovative science-driven biotechnology company. The company’s vision and strategy are to bring innovative drugs to patients based on synergistic long-term collaborations with leading global companies in the immunotherapy field.
Biond will use the new funds to move its lead drug candidate, BION-202, into clinical trials and to advance the preclinical development of BION-206 and its proprietary antibody cell-internalization technology.
Biond Biologics cofounder and CEO Dr. Tehila Ben nMoshe said, “We are excited to have such prominent investors as shareholders who are aligned with the company’s vision of delivering breakthrough immune-based solutions to patients with serious diseases. After two years of intense and creative discovery work, we are ready to advance our first innovative drug candidate into clinical trials.”
Published by Globes, Israel business news - en.globes.co.il - on January 8, 2019
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