Cellestia Biotech AG today announced the closing of a €18 million Series B financing round. The new funds will be added to the previously raised €7 million seed financing, €18 million Series A financing and €900K non-dilutive research grants, bringing the total capital raised to date by Cellestia to approximately €44 million.
Swiss startup Cellestia, founded in 2014, is a clinical-stage biopharma company targeting cancer at a level of gene transcription. More than 250,000 patients are diagnosed annually with NOTCH-dependent cancers, with no targeted therapies currently available. Cellestia is currently progressing the ongoing clinical development programme of CB-103, a first-in-class small molecule targeted therapy, which acts as pan-NOTCH inhibitor indicated for treatment of patients with such NOTCH-driven cancers. Cellestia holds a worldwide exclusive license on the intellectual property rights for CB-103 and related series of analogues, for development and commercialization.
The funds raised will be used to finance the operations and to advance the ongoing Phase l clinical trial into Phase II.
“This financing strengthens our balance sheet as we work to achieve important milestones for our clinical candidate CB-103 as well as the follow-up compounds,” said Gaudenz von Capeller, CFO of Cellestia Biotech AG.
This funding comes soon after Guido Guidi was elected as new ‘Chairman of Board of Directors’, and Robert Karsunky was elected new ‘Chairman of the Audit Committee and to the Board of Directors’, in June 2019.
Michael Bauer, CEO of Cellestia Biotech AG said, “Guido’s experience and knowledge in development, business and building a successful organisation is a tremendous asset to our company, and we are delighted that he has joined Cellestia as Chairman of our Board. Robert brings long-standing financial expertise to the board and strengthens internal governance in his roles of Chairman of the Audit Committee and Member of the Board. With these additions to the board, we are further adopting the board memberships in line with the company’s growth and development.”