Swiss Covagen bags $47m in series B
This article was originally published in Scrip
Executive Summary
The Swiss company Covagen, whose lead program aims to beat the performance of antibody TNF inhibitors in inflammatory diseases by adding anti-IL17 activity to the market-leading drug, has secured CHF42m ($47m) in a series B financing. It has yet to begin trials in man of its bispecific "FynomAbs" (binding proteins fused to antibodies), but hopes to enter the clinic next year.