ElsaLys Biotech announces first round of financing from Transgene and Sofimac Partners

May 20 2013

ElsaLys Biotech, which specializes in the development of therapeutic monoclonal antibodies, announces a first round of financing of 2.1M€ from the biopharmaceutical company Transgene and the investment fund Sofimac Partners.

“Our objective is to bring a first antibody drug candidate to IND enabling studies within the next three years”

With more than 40 marketed products and 250 products under development, monoclonal antibodies are more than ever at the heart of the new arsenal of therapeutics for cancer and inflammatory diseases. Even though the production of monoclonal antibodies has become standardized, the generation of an effective antibody with an optimal profile remains a scientific challenge which requires to bring together unique skills, all present within the ElsaLys Biotech team.

In the short term, ElsaLys Biotech will focus on the development of antibodies against targets derived from academic collaborators up to characterized drug candidates with robust in vivo proof of concept. Further clinical development will be conducted through industrial partnerships.

"Our objective is to bring a first antibody drug candidate to IND enabling studies within the next three years," according to Dr Jean-Yves Bonnefoy, CEO of ElsaLys Biotech. "To reach this goal, we benefit from the following advantages: expertise and know-how of the team coming from Transgene in the field of immunotherapy, a solid experience in the domain of therapeutic antibodies, a very promising set of first-in-class targets and solid funding of the stakeholders combining technological expertise and financial means."

All co-founders of ElsaLys Biotech come from Transgene. Next to Dr Jean-Yves Bonnefoy, Dr Christine Guillen, formerly Manager of External R&D collaborations at Transgene, is the new COO of ElsaLys Biotech.

"Transgene is going through a significant investment program in TG4010, a therapeutic vaccine, and Pexa-Vec, an oncolytic immunotherapy. Through our equity investment in ElsaLys Biotech, we keep a stand in the promising field of monoclonal antibodies without changing our strategic focus," said Philippe Archinard, Chairman and CEO of Transgene.

François Miceli, Director of Investment at Sofimac Partners and co-investor indicated: "In addition to the portfolio of products of ElsaLys Biotech, we invest in a team of professionnals who have already demonstrated their competence in the cutting-edge field of therapeutic antibodies. The attractive business model of ElsaLys Biotech should allow us to reach a return on investment in a shorter term than we would expect from a more classical product development."

Laurence Le Texier, Director of Technology Transfer at the Etablissement Français du Sang declared: "We are delighted to contribute to the early stages of ElsaLys Biotech. In view of the talented team, we did not hesitate to entrust ElsaLys Biotech with the mission to develop a drug candidate for a promising pancreatic cancer target discovered by Pr. C. Borg and the EFS, Diaclone and Franche-Comté University."