ATS leads €65m Series D round for German biotech firm

Ganymed pharmaceutical has now raised €117m from mostly German private equity firms to develop its cancer drugs pipeline.

ATS Beteiligungsverwaltung  has led a €65 million financing round for Ganymed Pharmaceuticals, which in four rounds has raised more than €117 million to develop cancer antibodies.

ATS was joined by investors including fellow German private equity firms Future Capital in Frankfurt and MIG Verwaltungs in Munich.

“We are really delighted by the trust and the very substantial involvement of our investors in Ganymed. The funds will not only support the clinical tests of our first antibody drug, but they will also allow us to considerably speed up and broaden our pipeline of highly cancer cell specific therapeutic antibodies,” Dr Oezlem Teureci, chief executive officer of Ganymed, said in a statement.

The company’s clinical trials of an antibody intended to combat stomach and throat cancer are due to begin in Germany this year. It has five other antibody projects in the pipeline, for lung, pancreatic, breast, colorectal and prostate cancer.

Ganymed was founded in 2001 as a spin off from the Universities of Mainz and Zurich. It raised €15 million in equity in its first two funding rounds, and closed series C funding on more than €37 million.