Oncology drug startup Cellestia Biotech has closed its seed funding at $8m after securing a third tranche backed by PPF Group, the owner of biotech company Sotio.
Switzerland-based oncology drug developer Cellestia Biotech has completed its seed funding, raising CHF8m ($8m) from investors including diversified holding company PPF Group.
The funding consists of CHF500,000 and CHF2.3m tranches that were closed in 2016 and a CHF5.2m third tranche that was provided by PPF and undisclosed private investors. CTI, the Swiss Commission for Technology Innovation, is also a backer.
Founded in 2014 as a spinoff from research university Ecole Polytechnique Fédérale de Lausanne, Cellestia is working on drugs that…
