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MarketScreener Homepage  >  Equities  >  Swiss Exchange  >  Novartis    NOVN   CH0012005267

NOVARTIS

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Swiss Biotech Anokion Raises $40 Million in Series B Round

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09/11/2019 | 12:10pm EDT

By Colin Kellaher

Swiss biotechnology startup Anokion SA on Wednesday said it raised $40 million in a Series B financing at an undisclosed valuation, bringing total equity and partner capital to more than $160 million.

Anokion, which is developing technology for retraining white blood cells to induce therapeutic immune tolerance, also said it has acquired Kanyos Bio Inc., adding KAN-101, a treatment for celiac disease, to its portfolio.

Existing investors Versant Ventures, Novartis Venture Fund and Novo Ventures participated in a round, along with Celgene, which formed a collaboration with Anokion in early 2017.

Anokion's lead product, ANK-780, is an antigen-specific treatment for multiple sclerosis. The company said it expects to have ANK-780 and KAN-101 in clinical development within the next 12 months.

Kanyos was formed in 2015 through a collaboration with Anokion and Astellas Pharma, at which time Astellas made an equity investment in the company. Anokion and Astellas mutually ended the collaboration last year, and Kanyos has been operating as an independent company since then.

-Brian Gormley contributed to this article.

Write to Colin Kellaher at colin.kellaher@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ASTELLAS PHARMA INC 0.53% 1530 End-of-day quote.10.79%
CELGENE CORPORATION 0.42% 99.37 Delayed Quote.54.39%
NOVARTIS 0.44% 86.26 Delayed Quote.15.60%
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Financials (USD)
Sales 2019 47 003 M
EBIT 2019 13 855 M
Net income 2019 10 274 M
Debt 2019 17 463 M
Yield 2019 3,44%
P/E ratio 2019 18,6x
P/E ratio 2020 20,3x
EV / Sales2019 4,58x
EV / Sales2020 4,22x
Capitalization 198 B
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Number of Analysts 25
Average target price 94,55  $
Last Close Price 86,26  $
Spread / Highest target 24,6%
Spread / Average Target 9,62%
Spread / Lowest Target -5,50%
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NameTitle
Vasant Narasimhan Chief Executive Officer
Hans Jörg Reinhardt Independent Non-Executive Chairman
Harry Werner Kirsch Chief Financial Officer
John Tsai Chief Medical Officer
Srikant T. Madhav Datar Independent Non-Executive Director
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