ATB Therapeutics Raises €54 Million Series A Financing to Propel Innovative Antibody Payload Technology into Clinical Development
• Financing co-led by EQT Life Sciences and MRL Ventures Fund (MRLV, corporate venture arm of Merck & Co., Inc., Rahway, N.J., USA)
• Proceeds will fund clinical development of oncology as well as immunology therapeutics derived from ATB's innovative platform
• Mark Throsby, industry veteran and former CSO of Merus, joins as Executive Chair
Marche-en-Famenne, Belgium, November 18th, 2024 — ATB Therapeutics ('ATB' or 'the Company') is excited to announce the successful completion of a €54 million Series A funding round, aimed at accelerating the clinical development of a groundbreaking therapeutic antibody pipeline derived from its proprietary ATBioFarm platform. The financing was co-led by EQT Life Sciences and MRL Ventures Fund (MRLV), alongside contributions from V-Bio Ventures, VIVES Partners, the Belgian sovereign fund SFPIM, Wallonie Entreprendre, Sambrinvest, and existing investors.
ATB Therapeutics is dedicated to pioneering First-in-Class biologics that incorporate novel cell-killing mechanisms, including enzymatic functionalities within targeted antibodies. These rapidly produced heterobifunctional antibodies combine multiple targeting and killing domains, enhancing their effectiveness and safety compared to traditional conjugates. The ATBioFarm technology facilitates the scalable, single-step production of these sophisticated, highly stable and homogenous biologics, promising significant advancements across various therapeutic applications.
The current capital increase will allow ATB to expand and enhance its state-of-the-art ATBioFarm platform as well as to accelerate development of its unique "weaponized" antibodies for oncology and immunology applications. ATB's research and development operations will be extended to Ghent and will continue in Marche-en-Famenne, where the Company is also setting up a cutting-edge pilot manufacturing facility.
In conjunction with this funding, ATB is excited to announce the appointment of Mark Throsby as Executive Chairman. Mark is an industry veteran and the former Chief Scientific Officer of Merus (NASDAQ: MRUS) where he was instrumental in the development of the bispecific antibody therapeutics petosemtamab and zenocutuzumab. With his wealth of experience and expertise in antibody development, Mark further strengthens the Company's leadership, as ATB embarks on this pivotal phase of growth. The Company is also welcoming seasoned biotech investors Karin Kleinhans, Partner at MRLV, and John de Koning, Partner at EQT, to its Board of Directors.
“Our successful financing round demonstrates the strong potential of the ATBioFarm platform and the confidence prominent international investors have in our vision,” stated Bertrand Magy, CEO and co-founder of ATB Therapeutics. “We are grateful to our existing investors and the Région Wallonne for their unwavering support. This funding will enable us to bolster our team, expand our operations, and advance our mission to deliver transformative therapies to patients worldwide.”
Mark Throsby expressed his enthusiasm for this new role, stating, “I am particularly impressed by the ATBioFarm platform’s capability to swiftly generate a diverse array of candidate molecules with unique cytotoxic and targeting features. This innovative approach addresses critical challenges in selecting ADC drug candidates and opens avenues for new mechanisms of action that fulfill unmet clinical needs. I look forward to collaborating with the ATB team to bring this vision to reality.”
“The founders of ATB Therapeutics have demonstrated remarkable entrepreneurial vision by establishing a proprietary drug discovery, development, and manufacturing platform from the ground up,” remarked John de Koning of EQT Life Sciences. “The platform's ability to manufacture antibodies from a single expression construct that integrates both targeting and direct cytotoxic functions is truly exceptional, positioning ATB as a prospective leader in the next generation of biopharmaceuticals.”
“At MRLV, our mission is to identify and support innovative technologies capable of transforming treatment approaches and enhancing patient outcomes,” added Karin Kleinhans. "We are thrilled to collaborate with ATB Therapeutics as they advance a pioneering class of antibody therapeutics towards clinical development."
About ATB Therapeutics
Founded in 2018, ATB Therapeutics is a pioneering biotechnology company based in Marche-en-Famenne, Belgium, dedicated to the discovery and development of novel antibody therapies. Leveraging a proprietary technology platform based on plant molecular farming, ATB Therapeutics aims to deliver targeted solutions to high unmet medical needs, including oncology and autoimmune diseases, through innovative, next-generation of weaponized antibody treatments.
About EQT Life Sciences
EQT Life Sciences was formed in 2022 following an integration of LSP, a leading European life sciences and healthcare venture capital firm, into the EQT platform. As LSP, the firm raised over EUR 3.0 billion (USD 3.5 billion) and supported the growth of more than 150 companies since it started to invest over 30 years ago. With a dedicated team of highly experienced investment professionals, coming from backgrounds in medicine, science, business, and finance, EQT Life Sciences backs the smartest inventors who have ideas that could truly make a difference for patients.
About MRL Ventures Fund (MRLV)
MRL Ventures Fund (MRLV) is a therapeutics-focused corporate venture fund of Merck & Co., Inc., Rahway, N.J., USA. From its headquarters in Cambridge, Mass., USA, the MRLV team invests globally in early-stage innovative therapeutics companies that are developing transformative medicines in any therapeutics area using any modality. The MRLV team of experienced-life sciences venture capital professionals is committed to supporting great entrepreneurs in their quest to create value through building companies that have a meaningful impact on health and disease. For more information, visit www.mrlv.com.
About V-Bio Ventures
V-Bio Ventures (www.v-bio.ventures) is an independent venture capital firm specialized in financing and supporting innovative life sciences companies. V-Bio Ventures was founded in 2015 and works closely with Belgium-based VIB, one of the world’s leading research institutes in the life sciences. The fund invests across Europe in high growth potential start-ups and young companies targeting transformational innovations in the biotech, pharmaceutical and agricultural sectors.
Public
About VIVES Partners
VIVES Partners manages two funds initiated by UCLouvain, VIVES IUF and its previous fund VIVES II. Both funds are pivotal in connecting academic research and innovative projects with public and private investors. Addressing the seed funding gap, VIVES IUF and VIVES II serve as a catalyst for transforming academic research and start-ups into viable, high-impact ventures. Notably, the VIVES II portfolio companies have raised approximately €1.5 billion ($1.6bn) in financing, demonstrating VIVES Partners’ ability to transform early-stage companies from pre-seed funding into series A/B and IPOs/trade sales. Both VIVES funds hold an impressive track record in employment creation, with VIVES II contributing to the creation of 600 full-time equivalent jobs. VIVES Partners’ funds benefit from support from the European Union under the InvestEU Fund, managed by the European Investment Fund (EIF). www.vivesfund.com
About SFPIM
SFPIM (Federale Participatie- en Investeringsmaatschappij- Société Fédérale de Participations et d’Investissement) is the Belgian sovereign wealth fund. Its investment policy aims to develop the Belgian economy with a long-term horizon, supported by an open-end fund structure. SFPIM manages assets worth €11.6 billion EUR and has a Fitch Long-Term Rating of AA. Its focus sectors include aviation, health, finance, energy, mobility, and impact investing, with an emphasis on global presence and innovation. For equity investments, SFPIM applies criteria such as profitable companies with positive growth prospects, a clear development strategy, a sound capital structure and strong management. SFPIM's investment portfolio includes stakes in both public and private companies of strategic importance to the Belgian state, as well as innovative young companies.
About WE Life Sciences
WE Life Sciences champions its ”Local Heroes” – researchers and entrepreneurs dedicated to transforming their innovations into drivers of a more sustainable and equitable global economy, with deep roots in Wallonia. WE Life Sciences fosters diversity and collaboration, investing in health sector companies across various development stages. The goal is not only to advance technology but also to prioritize patient’s needs by supporting solutions that address diverse health challenges and improve quality of life. As a pioneering, patient, and committed investor, WE Life Sciences partners with the most promising ventures from their earliest stages, guided by a vision that extends far beyond traditional venture capital timelines. By enabling entrepreneurs to explore new fields that they might hesitate to tackle alone, WE Life Sciences aims to create meaningful impact for patients while strengthening Wallonia’s economic system through support for innovative start-ups.
About Sambrinvest
With over 40 years of experience supporting businesses and entrepreneurs, a portfolio of nearly 330 SMEs, and more than €220 million under management, Sambrinvest is a key player in venture capital financing within the Charleroi region of Belgium. Beyond investing, Sambrinvest actively drives ecosystem growth, prioritizing strategic investments in companies within key sectors, namely industry, agrifood, materials, and life sciences. These efforts are further enhanced by major real estate investments, creating a fertile environment for business development.
About existing investors
Historical investors are Investsud tech, Noshaq Spin-offs, Fondation Fournier Majoie, Luxembourg Développement alongside additional business angels.
For Media Inquiries, Contact:
ATB Therapeutics
Dr Bertrand Magy, CEO
Email: info@atbtherapeutics.com