Y-mAbs Therapeutics, Inc. closes $50 million in a private placement led by HBM Healthcare Investments (HBM) and supported by current shareholders
NEW YORK, October 24, 2017 – Y-mAbs Therapeutics, Inc. (YmAbs), an immunotherapy company discovering and developing innovative treatments for patients with cancer, today announced that it has closed a private placement among HBM Healthcare Investments and its current shareholders raising $50 million.
YmAbs’ Founder, President and Head of Business Development and Strategy, Thomas Gad said, “We are very pleased to welcome HBM as a significant shareholder in YmAbs, together with our existing shareholders, who continue to show strong support and commitment to bringing breakthrough immunotherapies to children faced with advanced cancers and clear unmet medical needs. This new financing sets YmAbs in a strong financial position to further advance its late stage oncology pipeline.”
Dr. Claus Møller, Chief Executive Officer further notes, “This funding is an important financial achievement for YmAbs, and enables us to focus on bringing our lead compounds, burtomab and naxitamab, through the final steps of the regulatory pathway towards approval.”
Andreas Wicki, Chief Executive Officer of HBM Healthcare Investments added: “We are delighted to add YmAbs to our portfolio of promising healthcare companies. YmAbs’ approach to immunotherapy shows great promise and will further advance innovation and product development in the pediatric oncology field. YmAbs is a young and rapidly growing company that we are excited to support and to accompany on the way to further success.”