Cellestia Biotech, an oncology drug spinout of EPFL, has closed its seed funding at $8m after securing a third tranche backed by PPF Group, the owner of biotech company Sotio.
Cellestia Biotech, a Switzerland-based oncology drug developer spun out of Ecole Polytechnique Fédérale de Lausanne (EPFL), has completed its seed funding, raising Sfr8m ($8m) from investors including diversified holding company PPF Group.
The funding consists of Sfr500,000 and Sfr2.3m tranches that were closed in 2016 and a Sfr5.2m 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, Cellestia is working on drugs that will treat…
