Celgene Backs Immunotherapy Company Biond Biologics

Biond develops immunotherapies for cancer and autoimmune diseases

Meir Orbach 18:0208.01.19
TAGS:
Nasdaq-listed pharmaceutical company Celgene Corporation backed Israeli biotech company Biond Biologics Ltd., the latter announced Tuesday. Celgene participated in a $17 million series B financing round in Biond, which was led by Israel Biotech Fund, and Israeli Insurer Harel Insurance Investments & Financial Services Ltd.

 

For daily updates, subscribe to our newsletter by clicking here.

  

Founded in 2016, Biond develops immunotherapies for cancer and autoimmune diseases. The company was founded by the scientific team of cCAM Biotherapeutics Ltd., an immuno-oncology company which was acquired by Merck in 2015 for $606 million. In a statement, Biond said it intends to use the funding to move its lead drug candidate, BION-202, into clinical trials.

 

On Tuesday, Celgene announced that New York-listed bio-pharmaceutical company Bristol-Myers Squibb has agreed to buy it for $74 billion.

 

Celgene. Photo: AP Celgene. Photo: AP

 

Cancel Send
    To all comments
    Buzz
    Lightricks CEO Zeev Farbman. Photo: Eyal Merilos
    Lightricks announces $130 million Series D at $1.8 billion valuation
    19.09.2021 Golan Hazani
    2021 The 50 Most Promising Israeli Startups - 2021
    14.04.2021 Hagar Ravet and Meir Orbach
    Daniel Cohen. Photo: Viola New unicorns in Israel growing at an unprecedented rate
    02.09.2021 Allon Sinai
    Photo: Tammy Bar-Shay, Ayal Shenhav, Gal Defes, and Lior Shahar Should Israeli companies move overseas?
    14.09.2021 James Spiro
    Camouflauge digital art. Photo: Niio, Davide Quayola Digital art platform Niio raises $15 million, announces partnership with Samsung
    16:00 CTech
    Jan Feuerhake and Nathan Krapivensky. Photo: Taylor Wessing New opportunities abound for online gambling businesses
    19.09.2021 Jan Feuerhake and Nathan Krapivensky
    Recently Read
    Daniel Cohen. Photo: Viola New unicorns in Israel growing at an unprecedented rate
    Photo: Shutterstock Millions of passwords stolen by cybercriminals exposed by activist hacker
    Hippo CEO Assaf Wand Photo: Hippo Insurance Hippo loses $192 million in funding right before SPAC merger, keeps $5 billion valuation
    Recommended videos
    World champion Cyber competition for $1,000,000 Monthly
    Photo: Calcalist We’re heading to financial services aided by AI, says JP Morgan senior executive