Cellestia Biotech AG today announced the closing of a CHF 20 million Series B financing round. The new funds will be added to the previous, including CHF 8 million Seed financing, CHF 20 million Series A financing and CHF 1 million non-dilutive research grants, bringing the total capital raised to date by Cellestia to CHF 49 million (USD 50 million).
“This financing strengthens our balance sheet as we work to achieve important milestones for our clinical candidate CB-103 as well as the follow-up compounds,” said Gaudenz von Capeller, CFO of Cellestia Biotech AG.
Cellestia is progressing the ongoing clinical development program of CB-103, a first-in-class small molecule targeted therapy with a novel mode of action. CB-103 is a highly selective protein-protein interaction inhibitor targeting an oncogene transcription factor for the precision medicine treatment of specific cancers. It will also allow Cellestia to advance its innovative R&D pipeline activity.
In June 2019, Guido Guidi (Former Head Europe Novartis Pharma / Head Novartis Oncology Europe) was elected new Chairman of Board of Directors. Robert Karsunky (Head Latin America & Canada at Novartis Pharma) elected new Chairman of the Audit Committee and to the Board of Directors.
Michael Bauer, CEO of Cellestia Biotech AG said, “Guido’s experience and knowledge in development, business and building a successful organisation is a tremendous asset to our company, and we are delighted that he has joined Cellestia as Chairman of our Board. Robert brings long-standing financial expertise to the board and strengthens internal governance in his roles of Chairman of the Audit Committee and Member of the Board. With these additions to the board, we are further adopting the board memberships in line with the company´s growth and development.”
“I am excited to be a part of Cellestia’s journey. I find the science to be compelling and look forward to supporting the development of this novel precision oncology solution,” said Guido Guidi.