INTERVIEW: Finding Stars And Staying Independent, Biotech Veteran David Chiswell's Five Year Plan
David Chiswell has worked tirelessly to build up the British biotech industry for over 30 years. Now, as CEO of Kymab, he is looking to the future of the industry and how to find the stars of the future.
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Two of Britain's leading science innovators – Mab specialist Kymab Ltd. and GPCR-targeting Heptares Therapeutics – are joining forces to discover, develop and commercialize new antibody drugs targeting a number of G protein-coupled receptors, focusing initially on immuno-oncology.
Cambridge, UK-based Kymab has raised $50m to complete a total $90m series B financing round which will allow the firm to further its drug discovery platform, Kymouse. Kymab, founded in 2009, has now raised a total of $120m in equity financing. The $50m is being invested by Woodford Patient Capital Trust and Malin. It follows on from $40m invested by the Wellcome Trust and the Bill and Melinda Gates Foundation earlier in the series B round.
Forest Laboratories has secured an option to acquire the Vienna-based Nabriva Therapeutics within the next 12 months, as part of a co-development deal covering the biotech's lead investigational antibacterial agent, BC-3781. Forest is paying Nabriva $25 million and has agreed to finance the development BC-3781, which is currently in Phase II, over the next 12 months. The companies expect to start Phase III trials with the lead compound in 2013.