CatalYm Closes EUR 50 Million Series C Financing to Expand and Accelerate Phase 2 Clinical Development of Visugromab in Patients with Solid Tumors
Munich, Germany, November 22, 2022 – CatalYm today announced the close of a EUR 50 million (USD 49 million) Series C financing round. The oversubscribed round was co-led by new investors, Brandon Capital and Jeito Capital with participation from existing investors Forbion, Novartis Venture Fund, Vesalius Biocapital III, Bayern Kapital, BioGeneration Ventures and Coparion. The financing will support the continued, promising clinical development of its lead candidate, visugromab, a humanized monoclonal antibody engineered to neutralize the tumor-produced Growth Differentiation Factor-15 (GDF-15). GDF-15 acts as a key regulator of immune cell activation and as an inhibitor of immune cell infiltration into the tumor tissue.