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Immunotherapies for Life

YmAbs Raises $12 Million in Equity Funding

01-09-2017

Y-mAbs Therapeutics, Inc. closes $12 million in private placement among current shareholders

NEW YORK, January 9, 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 predominantly among its current shareholders raising $12 million. No placement agent was engaged in connection with the financing, which was oversubscribed.

YmAbs Founder, President and Head of Business Development and Strategy, Thomas Gad said, “Our existing shareholders continue to show strong support and are committed to bringing breakthrough immunotherapies to children faced with advanced cancers and clear unmet medical needs. The proceeds set YmAbs in a strong financial position, with potential to unlock significant near term value attributes.”

Dr. Claus Møller, Chief Executive Officer further notes, “This funding is an important financial achievement for YmAbs, as it enables us to focus on completing development and preparing the BLA for 131I-8H9 for Refractory Leptomeningeal Metastasis from Neuroblastoma.”

 

About YmAbs
YmAbs is a clinical stage biopharmaceutical company focused on developing new cancer treatments through immunotherapies. In addition, YmAbs utilizes its platform technologies to create next-generation humanized, affinity matured bispecific antibodies targeting GD2 and B7H3. To further improve our bispecific antibodies, we are collaborating on the development of a novel human protein tag that dimerizes T-cell engaging bispecific antibodies, which enables higher tumor binding and results in a longer serum half-life and a significantly greater T-cell mediated killing of tumor cells. Our treatments could potentially reduce longer-term toxicities associated with current chemotherapeutics and provide the potential for curative therapy even for patients with widespread disease. YmAbs’ goal is to drive multiple product candidates in select solid tumor cancers to FDA licensure. Each candidate has the potential to treat a variety of high-risk cancers. To learn more, visit www.ymabs.com.

 

SOURCE:

Y-mAbs Therapeutics, Inc.

 

CONTACT:

 Y-mabs Therapeutics, Inc.

 750 Third Avenue, 9th Floor

 New York, NY 10017

 USA

 +1 212 847 9844

 E-mail: info@ymabs.com

     Y-mAbs Therapeutics A/S

     Rungsted Strandvej 113

     2960 Rungsted Kyst

     Denmark

     +45 70 26 14 14

     E-mail: info@ymabs.com