GamaMabs Pharma, a Toulouse, France-based biotechnology company developing optimized therapeutic antibodies for the treatment of cancer, today announced the completion of a €15 million ($15.9 million) series B financing round.
The round was led by a new investor, BioDiscovery 4, a fund managed by Edmond de Rothschild Investment Partners (EdRIP). All existing GamaMabs investors (InnoBio, Irdinov, Alto Invest and iXO Private Equity) also subscribed to the round. The company raised €3.6 million ($3.8 million) in 2013 in a series A funding round led by InnoBio (Bpifrance).
The fundraising will primarily fund the phase I and phase II clinical trials of GM102 (3C23K), a monoclonal antibody targeting gynecological cancers. GM102 is a first-in-class antibody and the company’s most advanced product. It targets AMHRII, a protein expressed on tumor cells’ membrane surface in various gynecological cancers. It also activates immune cells present in the tumor microenvironment. The first-in-man clinical trials of GM102 will start in the first half of 2016.
“We are thrilled to welcome EdRIP, a high-profile investor that supports our goal to build GamaMabs into a market leader specialized in the treatment of gynecological cancers,” said Philippe Boucheron, deputy director of life sciences at Bpifrance Investissement. “The company is now well-equipped to demonstrate the clinical benefits of its products.”
"We are delighted with the trust expressed by EdRIP and all our current investors. This fundraising will fund proof-of-concept clinical trials on our GM102 antibody in patients with recurrent gynecologic cancers which represent major unmet medical needs,” said GamaMabs CEO Stéphane Degove.
“This financing concludes a very positive year for GamaMabs, including successfully completed GM102 preclinical trials, demonstrating its very favorable efficacy-safety profile,” said Dr. Jean-François Prost, vice president of R&D and strategy at GamaMabs.
Following the fundraising, Gilles Nobécourt, partner at EdRIP, and Professor Thierry Hercend will join GamaMabs’ board of directors.