Novimmune, a drug discovery and development company, has closed a CHF60 million ($67.5 million) Series B financing led by London-based Rosetta Capital. The company is focused on the creation of antibody-based drugs for the targeted treatment of inflammatory diseases, immune-related disorders and cancer. In addition to entering partnerships to exploit large market opportunities and its antibody drug platform, Novimmune plans to bring medicines to market for orphan disease applications. As part of the investment, Rosetta's Jonathan Hepple has joined the company's Board of Directors.
Novimmune's hefty funding round adds to Switzerland's rising venture capital scene. Since the beginning of 2010, VC investors have completed 140 deals in the country, adding up to about $1.4 billion of capital invested, according to the PitchBook Platform. The number of deals completed each year slightly decreased from 32 in 2010 to 26 in 2012, but quickly picked up in 2013 with 45 completed financings. Capital invested each year during the time period has increased, more than doubling from $218 million in 2010 to $448 million in 2013. Switzerland's healthcare industry has attracted the largest portion of the invested VC coin, but its IT industry has been on the rise, taking in a bigger share of the capital invested each year from 2011 to 2013 (an 11 percentage point jump).