ESBATech

About ESBATech

ESBATech, established in 1998 as a spin-out from the University of Zurich, is a biotechnology firm specializing in the development of antibody fragment therapeutics. The company was co-founded by Dominik Escher, who served as its CEO, leveraging his background in molecular biology to pioneer new treatments. His leadership was instrumental in overcoming the common stability and manufacturing issues that had previously hindered the clinical development of single-chain antibody fragments (scFv).

The core of ESBATech's business revolves around its proprietary technology for identifying highly stable and soluble scFvs, which are smaller than conventional antibodies, enabling new therapeutic applications and potentially reducing production costs. This platform technology led to the development of a pipeline of product candidates for treating a range of sight-threatening eye diseases. The company's business model focused on drug discovery and development up to the clinical proof-of-concept stage, with a primary concentration on ophthalmology.

A significant milestone in the company's history was the development of Brolucizumab (Beovu), the first scFv to receive market approval from the FDA in October 2019 for the treatment of wet age-related macular degeneration. This achievement validated the company's platform and represented a breakthrough for this class of biologics. Before its acquisition, ESBATech had raised a total of $90 million in venture capital, including a notable $50 million Series B round in 2006, which was one of the largest for a preclinical biotech company at the time.

In September 2009, Alcon acquired ESBATech for an initial $150 million, with up to $439 million in additional milestone payments, in a deal valued at $589 million. This transaction integrated ESBATech's antibody fragment technology and its team into Alcon's research and development efforts, specifically to bolster its biologics capabilities in ophthalmology. Shortly after, Novartis acquired Alcon, and ESBATech became part of the Novartis Institutes for BioMedical Research (NIBR), continuing its work on developing treatments for conditions like diabetic retinopathy, uveitis, glaucoma, and dry eye.