ITB-Med secures USD 67 million equity financing

ITB-Med AB has completed an equity raise of up to USD 67 million, led by Pablo Legorreta, the founder and CEO of Royalty Pharma.

ITB-Med is a biopharmaceutical company focusing on the development of specific immunomodulatory biologics for use primarily in organ and stem cell transplantation. The lead candidate drug Siplizumab is a monoclonal antibody in late-stage clinical development, which has shown significant potential in revolutionizing the treatment of organ transplant patients by allowing the complete discontinuation of all immunosuppressive drugs and restoration of a normal life.

With over $18 billion in assets, Royalty Pharma is the largest life sciences investment firm as well as the industry leader in the acquisition of royalties in leading biopharmaceutical products.

Carnegie has advised ITB-Med in connection with the transaction.