– ISRAEL, Misgav – Biond Biologics Ltd., a private, clinical-stage biopharmaceutical company developing novel immunotherapies for cancer and a platform enabling the intracellular delivery of biologics, today announced the closing of a $15m Series C financing round led by Deep Insight, alongside new investors such as the Heritage Group and existing investors such as Harel Insurance.
Concurrent with the financing, Barak Ben-Eliezer, Managing Partner at Deep Insight, will join the Board of Directors.
“We are impressed by the scientific work that is being performed at Biond and by Biond team’s capabilities of transforming scientific concepts to clinical stage therapeutics,” said Barak Ben-Eliezer, Managing Partner at Deep Insight. “Deep Insight invests in deep tech companies developing technological platforms that have the potential to create a significant impact in the world and Biond’s INspire platform perfectly aligns with the fund’s focus”.
“We are delighted to have Deep Insight join our distinguished list of shareholders,” said Co-Founder and CFO, Ori Shilo. “Following the closing of the current financing and with potential milestone payments from Sanofi that are expected down the road, Biond is well-positioned to bring its next pre-clinical programs to the clinic.”
About Biond Biologics
Biond Biologics is a clinical-stage company focused on developing innovative therapies for novel oncology targets by uncovering immunoregulatory pathways and by enabling the intracellular delivery of biologics. Biond aims to translate high-quality science and out-of-the-box disruptive thinking into transformational drugs for diseases with high unmet needs. The company’s vision is to deliver innovative medicines to patients while fostering synergistic long-term collaborations with leading biopharmaceutical companies.
Biond’s leading development programs include BND-22, a multi-cell checkpoint inhibitor targeting ILT2, and BND-67, a novel agent developed for overcoming PD-1 blockade resistance by targeting soluble CD28; an immune evasion mechanism discovered by Biond scientists. The company is also developing BND-35 – an ILT3 blocking antibody, that targets suppressive myeloid cells in the tumor microenvironment.
In addition to its pipeline of immunotherapy agents, Biond is developing INspire – an innovative technological platform that enables the intracellular delivery of protein therapeutics, such as antibodies or enzymes, into cells.
Biond was founded in 2016, by Tehila Ben Moshe, Ph.D., Ori Shilo, and a team of accomplished scientists and drug developers from the Israel biopharmaceutical industry. Israel Biotech fund, Harel Insurance, Deep Insight, and BMS, invested in Biond.
For more information: https://www.biondbio.com/
About Deep Insight Fund
Deep Insight is the first Israeli venture fund to invest only in Deep Tech at all stages and across all sectors. Deep Insight’s portfolio includes semiconductors and technology relating to various other scientific and technological breakthroughs in physics and life science.
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