Kivu Bioscience raises $92 million

San Francisco, USA-based biotech start-up Kivu Bioscience has announced the closing of a $92 million Series A financing round led by Novo Holdings, which as of year-end 2011123 had total assets of 149 billion euros ($161 billion).

Other participant are Gimv, Red Tree Venture Capital, HealthCap as well as existing investors BioGeneration Ventures, M Ventures, and Brabantse Ontwikkelings Maatschappij (BOM).

The funding will be used to advance multiple oncology programs into the clinic. The company is developing next-generation antibody-drug conjugates (ADCs) to deliver best-in-class therapeutics in this fast-growing sector.