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German-based company, Velabs Therapeutics, has closed its Series B financing round, raising EUR3 million (US$3.4 million).
German-based company, Velabs Therapeutics, has closed its Series B financing round, raising EUR3 million (US$3.4 million), it was revealed in a June 27, 2019 press release. The funding will be used by the company to advance its functional antibody screening program and to strengthen its pipeline of preclinical functional antibodies against disease with poor treatment options.
“This investment will enable us to advance the development of our own pipeline of preclinical functional antibodies and secure the expansion of our platform technology into new pharma-based co-development deals,” said Christoph Antz, managing director of Velabs in the press release.
“Further preclinical validation of our own antibody drug candidates against GPCRs and Ion Channels will enhance our position as a leader in the field of rapid functional antibody screening and development,” added Christoph Merten, scientific founder and CSO of Velabs.
Further details of the financing round were not disclosed.
Source: Velabs Therapeutics