EQT Life Sciences leads €54 Million Series A Financing of ATB Therapeutics
- Proceeds will fund clinical development of oncology and immunology therapeutics derived from innovative antibody payload platform
- Mark Throsby, industry veteran and former CSO of Merus, joins as Executive Chair
STOCKHOLM, Nov. 18, 2024 /PRNewswire/ -- EQT Life Sciences is pleased to announce that its LSP 7 fund has invested in ATB Therapeutics. The €54 million Series A funding round is aimed at accelerating the clinical development of a groundbreaking therapeutic antibody pipeline derived from its proprietary ATBioFarm platform. The financing was co-led by EQT Life Sciences and MRL Ventures Fund (MRLV, a corporate venture arm of Merck & Co., Inc., Rahway, N.J., USA) alongside contributions from V-Bio, VIVES Partners, the Belgian sovereign fund SFPIM, Wallonie Entreprendre, Sambrinvest, and existing investors.
ATB Therapeutics is dedicated to pioneering first-in-class biologics that incorporate novel cell-killing mechanisms, including enzymatic functionalities, within targeted antibodies. These rapidly produced antibodies combine multiple targeting and killing domains, enhancing their effectiveness and safety compared to traditional conjugates. The ATBioFarm technology facilitates the scalable, single-step production of these sophisticated biologics, promising significant advancements across various therapeutic applications.
The investment will enable ATB to expand and enhance the ATBioFarm platform, as well as to accelerate development of its unique weaponized antibodies for oncology and immunology applications. ATB's research and development operations will be extended to Ghent and will continue in Marche-en-Famenne, where the Company is setting up a cutting-edge pilot manufacturing facility.
In conjunction with this funding, Mark Throsby has been appointed ATB's Executive Chairman. Mark is an industry veteran and the former Chief Scientific Officer of Merus, where he was instrumental in the development of the bispecific antibody therapeutics. With his wealth of experience and expertise in antibody development, Mark further strengthens the Company's leadership, as ATB embarks on this pivotal phase of growth. The Company is also welcoming seasoned biotech investors John de Koning, Partner at EQT, and Karin Kleinhans, Partner at MRLV, to its Board of Directors.
"Our successful financing round demonstrates the strong potential of the ATBioFarm platform and the confidence prominent international investors have in our vision," stated Bertrand Magy, CEO and co-founder of ATB Therapeutics. "We are grateful to our investors and the Région Wallonne for their unwavering support. This funding will enable us to bolster our team, expand our operations, and advance our mission to deliver transformative therapies to patients worldwide."
Mark Throsby expressed his enthusiasm for this new role, stating, "I am particularly impressed by the ATBioFarm platform's capability to swiftly generate a diverse array of candidate molecules with unique cytotoxic and targeting features. This innovative approach addresses critical challenges in selecting ADC drug candidates and opens avenues for new mechanisms of action that fulfill unmet clinical needs. I look forward to collaborating with the ATB team to bring this vision to reality."
"The founders of ATB Therapeutics have demonstrated remarkable entrepreneurial vision by establishing a proprietary drug discovery, development, and manufacturing platform from the ground up," remarked John de Koning, Partner at EQT. "The platform's ability to manufacture antibodies from a single expression construct that integrates both targeting and direct cytotoxic functions is truly exceptional, positioning ATB as a prospective leader in the next generation of biopharmaceuticals."
Contact
EQT Press Office, press@eqtpartners.com
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