AMAL Therapeutics raises over CHF 33 million!
12.11.2018
The Geneva-based startup just announced a massive news on Monday morning. It completed the second closing of its Series B financing round, raising in total CHF 33.2 million. The newly acquired funds will support clinical development of lead vaccine, and extension of KISIMA technology platform. To understand what this investment means for the startup, we met AMAL Thereapeutics CEO and founder Madiha Derouazi.
 Madiha Derouzi, CEO and founder of AMAL Therapeutics © Corinne Sporrer
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What is AMAL Therapeutics and how did you first get started working on therapeutic vaccines?
AMAL Therapeutics is a Swiss biotech company developing therapeutic vaccines with a focus on oncology. Our goal: bring a novel approach to fight cancer, tackle the obstacles for effective anti-cancer therapy by simulating a patient’s immune system in a unique way. Our vaccines are based on a versatile proprietary technology called KISIMA – a unique self-adjuvanting protein-based immunization platform, capable of producing single therapeutic vaccines for immunotherapy and beyond. We developed our most advanced asset ATP128, a therapeutic protein vaccine for metastatic colorectal cancer, among the deadliest forms of cancer.
As a research scientist, I have been working on vector engineering and therapeutic cancer for over 13 years now. In fact, it was the main focus of my research and it led me to strongly believe in the potential of this approach. We wanted to transform the research into a viable product and from there was born the idea of founding AMAL Therapeutics.
Congratulation on raising CHF 33,2 million. Can you tell us more about the funding series, how did you prepare for it?
Thank you. It really is a big achievement for us. The financing round was co-led by Boehringer by Boehringer Ingelheim Venture Fund, BioMedPartners and Helsinn Investment Fund with VI Partners, Schroder Adveq and High-Tech Gründerfonds also participating. These investors had already committed to €8 million at the first closing back in September 2017. This time, they invested another CHF 24,2 million, bringing the total round to CHF 33.2 million. Over the past year, this syndicate of investors had the opportunity to see us progress towards the development of our vaccine and reach the milestones we had defined. They trust our management and believe in what AMAL will bring next to the table.
What will Amal Therapeutics use the funds for?
Our main goal is to use the funds to progress our lead vaccine, ATP128, toward clinical trial development and proof-of-concept in colorectal cancer. We expect this trial to start in summer next year. In addition, we would like to further develop KISIMA. The platform is highly versatile and can potentially be used to produce synthetic polypeptides for neoantigens or to provide modified antigen delivery.
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AMAL Therapeutics team © Corinne Sporrer
In 2012, the startup participated in the Venture Kick process. What did this experience bring you?
The support I have received was an amazing way to kick off the project. It allowed me to move from my life as a scientist to becoming an entrepreneur. Beyond the learnings and the feedback received, I really appreciated the network. Not just having access to trainers, investors, venture capitalists but also meeting and interacting with other entrepreneurs. The other founders were going through the same challenges as me. It was really valuable to be able to exchange experiences and share best practices.
What comes next for Amal Therapeutics?
The goal for us is to bring cancer patient a new therapeutic alternative. These new funds will allow us to move to a clinical trial, which is a big step in that direction. We are very proud of our achievements so far and we look forward to the future.
AMAL Therapeutics is a Swiss biotech company developing therapeutic vaccines with a focus on oncology. Our goal: bring a novel approach to fight cancer, tackle the obstacles for effective anti-cancer therapy by simulating a patient’s immune system in a unique way. Our vaccines are based on a versatile proprietary technology called KISIMA – a unique self-adjuvanting protein-based immunization platform, capable of producing single therapeutic vaccines for immunotherapy and beyond. We developed our most advanced asset ATP128, a therapeutic protein vaccine for metastatic colorectal cancer, among the deadliest forms of cancer.
As a research scientist, I have been working on vector engineering and therapeutic cancer for over 13 years now. In fact, it was the main focus of my research and it led me to strongly believe in the potential of this approach. We wanted to transform the research into a viable product and from there was born the idea of founding AMAL Therapeutics.
Congratulation on raising CHF 33,2 million. Can you tell us more about the funding series, how did you prepare for it?
Thank you. It really is a big achievement for us. The financing round was co-led by Boehringer by Boehringer Ingelheim Venture Fund, BioMedPartners and Helsinn Investment Fund with VI Partners, Schroder Adveq and High-Tech Gründerfonds also participating. These investors had already committed to €8 million at the first closing back in September 2017. This time, they invested another CHF 24,2 million, bringing the total round to CHF 33.2 million. Over the past year, this syndicate of investors had the opportunity to see us progress towards the development of our vaccine and reach the milestones we had defined. They trust our management and believe in what AMAL will bring next to the table.
What will Amal Therapeutics use the funds for?
Our main goal is to use the funds to progress our lead vaccine, ATP128, toward clinical trial development and proof-of-concept in colorectal cancer. We expect this trial to start in summer next year. In addition, we would like to further develop KISIMA. The platform is highly versatile and can potentially be used to produce synthetic polypeptides for neoantigens or to provide modified antigen delivery.
AMAL Therapeutics team © Corinne Sporrer
In 2012, the startup participated in the Venture Kick process. What did this experience bring you?
The support I have received was an amazing way to kick off the project. It allowed me to move from my life as a scientist to becoming an entrepreneur. Beyond the learnings and the feedback received, I really appreciated the network. Not just having access to trainers, investors, venture capitalists but also meeting and interacting with other entrepreneurs. The other founders were going through the same challenges as me. It was really valuable to be able to exchange experiences and share best practices.
What comes next for Amal Therapeutics?
The goal for us is to bring cancer patient a new therapeutic alternative. These new funds will allow us to move to a clinical trial, which is a big step in that direction. We are very proud of our achievements so far and we look forward to the future.