Catalym raises 50 million euros

The Munich-based biotech company has successfully completed its C-financing round. The money will be used for research into a cancer drug.

Catalym from Martinsried raised 50 million euros in its Series C financing round. The round was led by Australian life science investors Brandon Capital and Jeito Capital, who invested in Germany for the first time. Both are investing in the biotech start-up for the first time. Existing shareholders such as Forbion, the Novartis Venture Fund and Bayern Kapital were once again on board.

Catalym intends to use the money to finance the clinical trials of Visugromab, a potential cancer drug. Visugromab works through antibodies that neutralize a specific protein used by tumors to protect the immune system. This function is intended to make cancer treatments more effective. It is currently being tested in several phase two trials. Drugs have to go through three clinical phases before they can be approved.

Tumor researcher Jörg Wischhusen developed the scientific basis for the start-up at the University of Würzburg in 2016, which was then launched on the market as a spin-off of the university. Phil L'Huillier, who previously worked for the pharmaceutical company MSD, has been CEO of the company since May. Wischhusen is a member of Catalym's advisory board.