Geneva spinout Amal Therapeutics moves on with the development of its potential colorectal cancer therapy as it raises $3.1m in series A funding.
Amal Therapeutics, a biotech spinout of Geneva University, has raised Fr3m ($3.1m) in a series A round from investors including German-government owned development bank KfW.
High-Tech Gründerfonds (HTGF), a public–private partnership partly owned by the Federal Ministry of Economics and Technology, and VI Partners also participated in the round led by Boehringer Ingelheim Venture Fund, the investment vehicle of pharmaceutical firm Boehringer Ingelheim.
Founded in 2012, Amal Therapeutics develops therapeutic cancer therapies through the use of its Kisima technology platform for therapeutic tumour vaccination. Its lead candidate, ATP124, is a vaccine for colorectal cancer.
Amal will use the cash to advance preclinical development of ATP124 and support the future development of Kisima.
HTGF and Boehringer Ingelheim Venture Fund previously invested an undisclosed amount in seed capital in 2014.
Madiha Derouazi, chief executive and founder of Amal Therapeutics, said: “This series A investment recognises the potential of the Kisima technology platform and the value of our scientific assets.”
