Novimmune, a Swiss biotech company focused on the discovery and development of antibody-based drugs, today announced it has successfully completed another CHF 30 million (USD 31 million) funding round with existing shareholders.
The equity increase comes after a series of significant advances in Novimmune’s drug pipeline including important clinical milestones of its lead compound, NI-0501 for Hemophagocytic Lymphohistiocytosis (HLH), currently in phase 2/3 of clinical development. Primary HLH is a life-threatening disease of severe hyperinflammation which mainly occurs in children. On 11th March 2016, the US Food and Drug Administration (FDA) granted Breakthrough Therapy Designation to NI-0501 for the treatment of patients with primary HLH with refractory disease, or with recurrent or progressive disease during conventional therapy….
Source: Novimmune