The biotech company CDR-Life from Schlieren in the canton of Zurich has successfully closed a series A funding round with 76 million US dollars. According to a press release from the company, which specializes in the development of T cell therapies to treat tumors, this funding round was conducted by Jeito Capital and RA Capital with the participation of Omega Funds. In connection with the financing, the administrative board of the startup founded in 2017 will welcome Rafaèle Tordjman, Founder and CEO of Jeito Capital from Paris, Daniel Marks from RA Capital, and Claudio Nessi, Managing Director of Omega Funds, both from Boston.
The proceeds from the series A funding are to be used for the costs of clinical proof of concept and further development of the therapy CDR404, among other things. This cancer therapy is based on the M-gager technology developed by CDR-Life for the use of intracellular antigens to fight tumors.
Christian Leisner, CEO of CDR-Life, states: “The proceeds from this financing allow us to fund our first clinical proof-of-concept opportunity with CDR404, while continuing development of novel targeted immunotherapies based on CDR-Life’s superior T cell engaging platform.”
Tordjman states that with this investment, Jeito Capital is building a diversified portfolio of European biotech companies with global reach in various therapeutic areas and development stages. Marks adds that “CDR-Life has the deep biologics and platform technology expertise” required for the development of cancer therapies.
The headquarters of CDR-Life are located at the Bio-Technopark Schlieren-Zürich.
