Financing enables company to embark on additional targets and expand ADC technology reach
Duisburg, Germany - Marseille, France, 25 November 2020. Emergence Therapeutics AG, a European biopharmaceutical company developing novel antibody drug conjugate (ADC) immuno-therapeutics to treat high need cancers, announces that is has closed a Bumped-up Follow-on Seed Round Financing from a syndicate of leading European investors comprising Bpifrance through its InnoBio 2 fund, Gründerfonds Ruhr, Heidelberg Pharma Research GmbH, High-Tech Gründerfonds, idinvest Partners, Kurma Partners and NRW.Bank. The Follow-on Seed Round was led by High-Tech Gründerfonds and included support from the first pillar of the German Federal Government’s Euro 2 billion package of measures for start-ups.
Jack Elands, CEO of Emergence Therapeutics said: “We are grateful for the continued support from our investors at this seed stage. The proceeds from the Follow-on Seed Round will be used to continue the development of our lead program targeting Nectin-4, an increasingly important and clinically validated target for a broad range of cancers. Moreover, the funding enables us to expedite work on further programs as well as expand our ADC toolset with additional, highly innovative linker-payload technologies.”
Anke Caßing, Senior Investment Manager at High-Tech Gründerfonds added: “We are particularly impressed with the approach Emergence Therapeutics is taking towards developing novel, much needed cancer treatments. The company features a unique combination of ADC technology driven by innovation and led by a world-class management team.”