GamaMabs Pharma to develop new cancer treatment
Receives funding of €3.1m
French biopharmaceutical firm LFB and BPI France have created a new biotechnology firm called GamaMabs Pharma to develop a new therapeutic antibody to treat ovarian cancer with private equity funding of €3.1m.
The company’s first product is a new monoclonal antibody targeting gynecological cancers, including ovarian cancer.
Ovarian cancer is responsible for over 50,000 deaths every year in Europe and the US. It has a poor prognosis as it is often diagnosed at an advanced stage due to a lack of systematic screening. Increasing resistance to traditional chemotherapy treatments justifies research into targeted therapeutic solutions, such as monoclonal antibodies.
In collaboration with public partners (Inserm, Université de Montpellier; Institut du cancer de Montpellier), the LFB group has chosen an original antibody with strong cytotoxic activity from its proprietary platform for the monoclonal antibody generation (EMABling), to provide a new therapeutic approach to this cancer. The antibody 3C23K, for which LFB has obtained an exclusive operating licence, has proved its effectiveness in experimental models of ovarian cancer.
Jean-François Prost, former Scientific and Medical Director of the LFB group, has become Vice President of R&D and Strategy at GamaMabs, with Stéphane Degove as Chief Executive.
GamaMabs Pharma has benefited from an exclusive global sublicence from the LFB group for the monoclonal antibody 3C23K and is supported by LFB group’s EMABling platform. In exchange for the agreed rights, LFB group has taken a minor stake in GamaMabs Pharma. This investment will allow the validation of the therapeutic concept in collaboration with various regional centres specialising in cancer and to prepare the first clinical trial.
Denis Soubeyran, Head of Finance and Strategy at LFB group said: 'This contract provides every opportunity for the success of this very promising project, initiated by LFB group, for the treatment of ovarian cancer. Our capital contribution in GamaMabs Pharma, our implication in the project through our EmaBling platform and the bioproduction capacity of our subsidiary LFB Biomanufacturing all demonstrate our interest and confidence in the future of this project.'
