Wellcome Trust, Gates Foundation back UK antibody developer Kymab


blood cells_sqUK-based biopharmaceutical business Kymab has picked up $40m through a Series B financing round from the Bill & Melinda Gates Foundation and existing backer the Wellcome Trust.

Each party invested $20m in the company, which makes monoclonal antibodies to target diseases including cancer and problems such as inflammation.

Trevor Mundel, president of global health at the Bill & Melinda Gates Foundation, said, “We are excited to work with Kymab in pursuit of research and development of drugs and vaccines to address diseases that have a disproportionate impact on the world’s poorest.

“We believe Kymab has one of the most comprehensive transgenic technologies to date, capturing the entire human IgG diversity and are pleased to support the company as it enters its next stage of growth.”

Kymab previously raised $30m from the investment division of the Wellcome Trust in 2010.

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