CDR-Life Announces $76 Million Raised in Series A FundingApril 13, 2022 12:04 pm
Zürich, Switzerland, April 13, 2022 – CDR-Life Inc., a biotechnology company pioneering a new and differentiated class of highly tumor-specific immuno-oncology therapeutics based on its proprietary antibody-based MHC-targeting T cell engager technology, today announced the closing of a $76 million Series A financing led by Jeito Capital and RA Capital Management, with participation from Omega Funds. In connection with the financing, Rafaèle Tordjman, Founder & CEO of Jeito Capital, Daniel Marks, Principal of RA Capital, and Claudio Nessi, Managing Director of Omega Funds, will join the Company’s Board of Directors.
CDR-Life is currently advancing its lead program, CDR404, a first of its kind dual MAGE-A4 T cell engager which targets solid tumors across multiple indications, based on the Company’s unique M-gager® technology. Proceeds from the Series A financing will advance CDR404 through potential clinical proof-of-concept readout as well as expansion of the pipeline leveraging the Company’s M-gager® technology for targeting intracellular antigens positioned to deliver unparalleled specificity and affinity in solid tumors.
“We are honored to have the support of these high-caliber investors, reflecting both the critical need for effective T cell engaging therapies against solid tumors and the support of the CDR-Life product engine and development pipeline,” said Christian Leisner, PhD, Chief Executive Officer of CDR-Life. “The proceeds from this financing allow us to fund our first clinical proof-of-concept opportunity with CDR404, while continuing development of novel targeted immunotherapies based on CDR-Life’s superior T cell engaging platform. We are thankful to have the opportunity of raising a significant Series A round in such challenging times with an excellent European and US co-led investor group, assisting us in advancing our pipeline and goal of empowering cancer patients with uniquely targeted immunotherapies.”
“We are thrilled to invest in CDR-Life which absolutely embodies our investment strategy with its high-quality science in T cell engagers, expert leadership team which has together already built a previous successful Biotech company, strong syndicate of investors and significant capital. Jeito Capital with this 10th investment is building a diversified portfolio of the next generation of European biotech leaders with a global reach in different therapeutic areas and development stages. CDR-Life is ideally positioned to accelerate its therapies based on innovative modalities for the benefit of millions of patients with limited therapeutic options. We look forward to support CDR-Life’s success,” said Rafaèle Tordjman, Founder and CEO of Jeito Capital.
“CDR-Life has the deep biologics and platform technology expertise to rapidly develop bispecific molecules against this promising, but challenging, class of intracellular targets,” said Daniel Marks, Principal of RA Capital. “We’re especially pleased to be working with these leading healthcare investors and this experienced and talented leadership team.”
Based in Switzerland, CDR-Life is led by an experienced team of biotech executives who have developed new medicines and closed substantial biotech deals, including Beovu® and ESBATech. The Company has an ongoing partnership with Boehringer Ingelheim, advancing its program, CDR202, into preclinical stage of development targeting macular degeneration. Clinical candidate, CDR101, a next generation BCMA, CD3, and PD-L1 targeting trispecific antibody in preclinical development for the treatment of multiple myeloma (MM) has recently demonstrated increased in vitro activity compared to clinical stage-like bispecific BCMA therapies, inducing superior T cell activation in bone marrow samples of MM patients and more durable tumor eradication in a mouse xenograft model. CDR101 is ready for IND-enabling studies.
This post was written by CDR Life Editor