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News Release - November 3, 2021
Biond Biologics Announces Closing of $15 Million Series C FinancingMISGAV, Israel, Nov. 3, 2021 -- (Healthcare Sales & Marketing Network) -- Biond Biologics Ltd., a private, clinical-stage biopharmaceutical company developing novel immunotherapies for cancer and a platform enabling the intracellular delivery of biologics, announced today the closing of a $15 million, Series C financing round.
The financing round was led by Deep Insight, with participation of new investors such as the Heritage Group and existing investors such as Harel Insurance and others. Upon the closing of the financing, Barak Ben Eliezer, Managing Partner at Deep Insight, will join Biond's Board of Directors.
Biond announced earlier this year that it had entered a strategic collaboration with Sanofi for the development of BND-22 (SAR444881), the company's Ig-Like Transcript 2 (ILT2) receptor-blocking antibody, and that the first patient has been dosed in the first-in-human, phase 1 clinical trial of BND-22. Other than BND-22, Biond's innovative immuno-oncology programs include BND-67 and BND-35. BND-67 is a first-in-class CD-28 signaling modulator which targets a novel mechanism of T-cell activation. BND-35 is an anti Ig-Like Transcript 3 (ILT3) antibody, an immune checkpoint inhibitor that inhibits the activity of immune suppressive cells. In addition, Biond is developing INspire, a transformative intracellular delivery platform for biologics, allowing to deliver drugs to intracellular targets currently considered 'undruggable'.
"We are delighted to have Deep Insight join our distinguished list of shareholders," said Ori Shilo, Co-Founder and Chief Financial Officer of Biond Biologics. "Following the closing of the current financing and with potential milestone payments from Sanofi that are expected down the road, Biond is well positioned to bring its next pre-clinical programs to the clinic."
"We are impressed by the scientific work that is being performed at Biond and by Biond team's capabilities of transforming scientific concepts to clinical stage therapeutics," said Barak Ben Eliezer, Managing Partner at Deep Insight. "Deep Insight invests in deep tech companies developing technological platforms that have the potential to create a significant impact in the world and Biond's INspire platform perfectly aligns with the fund's focus".
About Biond Biologics
Biond Biologics is a clinical stage company focused on developing innovative therapies for novel oncology targets by uncovering immunoregulatory pathways and by enabling the intracellular delivery of biologics. Biond aims to translate high quality science and out-of-the-box disruptive thinking into transformational drugs for diseases with high unmet needs. The company's vision is to deliver innovative medicines to patients while fostering synergistic long-term collaborations with leading biopharmaceutical companies.
Biond's leading development programs include BND-22, a multi-cell checkpoint inhibitor targeting ILT2, and BND-67, a novel agent developed for overcoming PD-1 blockade resistance by targeting soluble CD28; an immune evasion mechanism discovered by Biond scientists. The company is also developing BND-35 – an ILT3 blocking antibody, that targets suppressive myeloid cells in the tumor microenvironment.
In addition to its pipeline of immunotherapy agents, Biond is developing INspire – an innovative technological platform that enables the intracellular delivery of protein therapeutics, such as antibodies or enzymes, into cells.
Biond was founded in 2016, by Tehila Ben Moshe, Ph.D., Ori Shilo, and a team of accomplished scientists and drug developers from the Israel biopharmaceutical industry. Israel Biotech fund, Harel Insurance, Deep Insight and BMS, invested in Biond. For more information, visit www.biondbio.com.
About Deep Insight Fund
Deep Insight is the first Israeli venture fund to invest only in Deep Tech at all stages and across all sectors. Deep Insight's portfolio includes semiconductors and technology relating to various other scientific and technological breakthroughs in physics and life science.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such jurisdiction.
Source: Biond Biologics
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