Adimab completes series F funding, begins expansion
Adimab, a discovery company of fully human antibodies, has closed its over-subscribed Series F financing and acquired a research facility in Lebanon, N.H., where it plans to set up new headquarters.
The additional funds were raised entirely from existing investors, including Google Ventures, Polaris and SV Life Sciences. “These additional funds enhance our already strong balance sheet, allowing us to pursue several complementary opportunities more aggressively,” said Tillman Gerngross, CEO of Adimab.
With the new funding, Adimab plans to expand its platform to additional applications, such as the development of bi-specific antibodies, antibody-drug conjugates, targeting cell based antigens including GPCRs and ion channels, as well as preclinical manufacturing and mammalian cell line development.
“Our focus has always been on helping our partners develop better therapeutic antibodies,” ” said Errik Anderson, COO of Adimab. “Therefore, as we see attractive opportunities to acquire or develop additional capabilities we want to have excess capital to pursue them. Based on the strength of our current business we were able to raise capital under very attractive terms, which made this an easy decision.”