ESBATech (now ESBATech – a Novartis company) is recognized for its pioneering role of developing single-chain antibody fragments, in particular for ophthalmic indications.
ESBATech was founded in 1998 and developed a novel technology for therapeutic applications of antibody fragments. The company raised in total USD 90M venture capital in a Seed, Series A and Series B round. The Series B round of 2006 was with USD 50M one of the largest financing round at that time for a preclinical stage biotech company.
In 2009, ESBATech sold its ophthalmic business for USD 589M to Alcon, shortly thereafter Alcon was acquired by Novartis.