On October 25, 2017 Y-mAbs Therapeutics, Inc. (YmAbs), an immunotherapy company discovering and developing innovative treatments for patients with cancer, reported that it has closed a private placement among HBM Healthcare Investments and its current shareholders raising $50 million (Press release, Y-mAbs Therapeutics, OCT 25, 2017, View Source [SID1234521160]).

Schedule your 30 min Free 1stOncology Demo!
Discover why more than 1,500 members use 1stOncology™ to excel in:

Early/Late Stage Pipeline Development - Target Scouting - Clinical Biomarkers - Indication Selection & Expansion - BD&L Contacts - Conference Reports - Combinatorial Drug Settings - Companion Diagnostics - Drug Repositioning - First-in-class Analysis - Competitive Analysis - Deals & Licensing

                  Schedule Your 30 min Free Demo!

YmAbs’ Founder, President and Head of Business Development and Strategy, Thomas Gad said, "We are very pleased to welcome HBM as a significant shareholder in YmAbs, together with our existing shareholders, who continue to show strong support and commitment to bringing breakthrough immunotherapies to children faced with advanced cancers and clear unmet medical needs. This new financing sets YmAbs in a strong financial position to further advance its late stage oncology pipeline."

Dr. Claus Møller, Chief Executive Officer further notes, "This funding is an important financial achievement for YmAbs, and enables us to focus on bringing our lead compounds, burtomab and naxitamab, through the final steps of the regulatory pathway towards approval."

Andreas Wicki, Chief Executive Officer of HBM Healthcare Investments added: "We are delighted to add YmAbs to our portfolio of promising healthcare companies. YmAbs’ approach to immunotherapy shows great promise and will further advance innovation and product development in the pediatric oncology field. YmAbs is a young and rapidly growing company that we are excited to support and to accompany on the way to further success."