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The Basel startup Cellestia Biotech has raised 20 million Swiss francs in a financing round. It plans to use the funds to advance the development of its agent CB-103 for the treatment of specific types of cancer.
Cellestia Biotech has successfully closed a Series B financing round that raised 20 million Swiss francs. The round included several Asian venture capital funds, such as FC Capital and Partners Investment. With the new round, the Basel startup company has raised a total of 49 million Swiss francs in investment so far.
Cellestia’s agent CB-103 is a so-called pan-Notch inhibitor that fights Notch-positive cancer by working on the Notch signaling pathway. The new funds will drive the development of CB-103, which is currently undergoing clinical trials.
In June, Cellestia named Guido Guidi as the new President of the Board. Guidi formerly headed Novartis’ European pharma business.
Cellestia Biotech AG was founded in 2014 as a spinoff from the Federal Institute of Technology in Lausanne (EPFL). It is headquartered in the Technologiepark Basel. The location promotion organization BaselArea.swiss has already supported Cellestia with different services.