Adimab Completes Series F Financing - Acquires New Research Facility to Accommodate Growth
LEBANON, N.H., Apr 02, 2012 (BUSINESS WIRE) -- Adimab, LLC, a leader in the discovery of fully human antibodies, today announced the closing of an over-subscribed Series F financing. The additional funds were raised entirely from existing investors. In addition, Adimab has acquired a new 21,500 square foot research facility at 7 Lucent Drive in Lebanon, NH. The building will serve as the company(eqnx:)s headquarters.
(eqnx:)These additional funds enhance our already strong balance sheet, allowing us to pursue several complementary opportunities more aggressively,(eqnx:) said Tillman Gerngross, Chief Executive Officer of Adimab. (eqnx:)We are accelerating the expansion of our platform to include additional applications such as the development of bi-specific antibodies, antibody-drug conjugates, targeting cell based antigens including GPCRs and ion channels, as well as preclinical manufacturing and mammalian cell line development.(eqnx:)
(eqnx:)Our focus has always been on helping our partners develop better therapeutic antibodies. Therefore, as we see attractive opportunities to acquire or develop additional capabilities we want to have excess capital to pursue them. Based on the strength of our current business we were able to raise capital under very attractive terms, which made this an easy decision,(eqnx:) said Errik Anderson, Chief Operating Officer of Adimab.
Adimab(eqnx:)s fully integrated antibody discovery and optimization platform provides partners with the unique opportunity to rapidly incorporate biology while selecting purified, full-length human IgGs. As a result, Adimab offers fundamental advantages by delivering and optimizing diverse panels of therapeutically relevant antibodies that meet the most aggressive standards for affinity, epitope coverage, species cross-reactivity and developability.
As a result of its robust next-generation antibody discovery and optimization technology, Adimab has become the industry(eqnx:)s most sought after partner, having collaborated on more than 20 antibody discovery projects in the last three years. Adimab enables its partners, including Biogen Idec, Genentech, Lilly, Merck, Novartis, Novo Nordisk, Pfizer, Roche, and others, to rapidly expand their biologics pipelines through a broad spectrum of technology access arrangements. The quality and speed of Adimab(eqnx:)s platform have been further validated by the use of several Adimab-discovered antibodies in human clinical testing less than three years after Adimab launched its platform. For more information, visit www.adimab.com .
SOURCE: Adimab, LLC
MacDougall Biomedical Communications
Chris Erdman, 781-235-3060