Valneva and BliNK Therapeutics Launch of New Biotech Company
New company has already secured first round of financing
Valneva SE and BliNK Therapeutics Ltd announced the creation of a private company specialized in the discovery of monoclonal antibodies to be headquartered in Lyon, France and to be named BliNK Biomedical SAS. The new company, which will benefit from the combination of two validated antibody discovery platforms, BliNK Therapeutics Ltd’s IVV and Valneva’s VIVA|Screen®, has already secured its first round of financing.
The creation of BliNK Biomedical SAS will give Valneva’s antibody business the necessary structure and prospects to expand into novel antibody discovery fields outside of infectious diseases while offering a new investment opportunity for future additional shareholders. While Valneva intends to retain a substantial ownership interest in the new entity, BliNK Biomedical SAS will be run as an independent business by its own management team. This step will allow Valneva to concentrate on vaccines research, development and commercialization. At the same time, Valneva will continue to benefit from its VIVA|Screen® antibody technology through its financial participation in the new company.
The new company will be owned by Valneva, Kurma Biofund I, funds managed by Idinvest Partners, Cancer Research Technology (CRT) and BliNK Therapeutics Ltd’s founders. Kurma Partners, CRT and Valneva will appoint members of the Supervisory board of the new company. BliNK Biomedical SAS will be headquartered in Lyon, France, currently the center of excellence for Valneva’s antibody discovery activities, with a subsidiary at GSK’s and Wellcome Trust’s bioincubator (BioScience Catalyst) in Stevenage, UK.
The new company, which will receive assets from Valneva and shareholders of BliNK Therapeutics Ltd in exchange of ordinary shares, has already secured a Series A financing from Valneva, Kurma Biofund I and funds managed by Idinvest Partners against issuance of a combination of preference shares and convertible bonds.
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Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
Topic world Antibodies
Antibodies are specialized molecules of our immune system that can specifically recognize and neutralize pathogens or foreign substances. Antibody research in biotech and pharma has recognized this natural defense potential and is working intensively to make it therapeutically useful. From monoclonal antibodies used against cancer or autoimmune diseases to antibody-drug conjugates that specifically transport drugs to disease cells - the possibilities are enormous
