Funding boosts ESBATech

Zurich-based ESBATech has secured second round funding to expand its product pipeline. The value of the financing was undisclosed. The biotech company, which is specialised in functional screenings for the drug discovery process, is being backed by lead investor, Lombard Odier & Cie from its Immunology Fund. Also participating in the round are HBM bioVentures, BSI New Biomedical Frontiers and Peter Ohnemus. Novartis Venture Fund, sole investor in ESBATech’s first financing round also continues its commitment to the company. Swiss-based corporate finance boutique advised ESBATech on the round.

The financing will allow the company to expand its research and development capabilities and to focus on the need of strategic partners.

CEO Dr Dominik Escher is excited about the scope this investment opens for expansion and growth of ESBATech. “This is an extremely positive signal and sign of commitment, especially in times of adverse market conditions. We have a lot of projects in the pipeline and are very excited to now have the means to pursue them,” he said.

The company will move to new premises with a total of 1,200m2 laboratory and office space at the Biotech Park in Zurich, Schlieren by the end of the year. This will allow for an increase in staffing levels and installation of new technical instrumentation.

ESBATech was founded in 1998 and is a spin-off company from the Institute of Molecular Biology of the University of Zurich. The company specialises in pre-clinical research for the identification of disease relevant genes and functional screenings for lead compounds in drug discovery processes.