Woodford Patient Capital Trust and Malin Corporation take total Series B financing at Kymab to $90m
Cambridge, UK-based monoclonal antibody company Kymab has raised a further US$50m to take its Series B financing to $90m.
The new $50m is being invested by Woodford Patient Capital Trust and Malin Corporation and follows the first $40m Series B funding from the Wellcome Trust and the Bill & Melinda Gates Foundation.
The funds will enable Kymab to maximise the potential of its Kymouse platform and advance its proprietary pipeline of first-in-class therapeutic human monoclonal antibodies in areas of significant unmet medical need, the company said.
In association with the financing, Kymab has added two life science executives to the Board. G. Kelly Martin, former CEO of Elan Corporation and Director of Malin and Adrian Howd, CEO of Malin.
Kymab's Chairman and interim CEO David Chiswell said: 'We are delighted to welcome high quality investors of the calibre of Malin and Woodford to Kymab which support our goal to build Kymab into a sustainable biopharmaceutical company. The funds will be used to maximise the potential of the Kymab pipeline as we develop and commercialise monoclonal antibody medicines for difficult and novel drug targets.'
Kymab signed its first Kymouse partnership agreement with Novo Nordisk in 2013.