Appexigen Inc. A biopharmaceutical company dedicated to the discovery and development of innovative antibody-based drugs for the treatment of serious diseases, announced today that it has secured $20 million in funding for Series A1. The funding will be used to advance the development of APX005, an immunotherapy for cancer treatment, and to support the development of additional pipeline programs.
‘We are very pleased and pleased with the response and support from our investors. The level of interest and enthusiasm in Apexigen, as seen in the oversubscription rate, gives a significant vote of confidence in our progress to date and in our future prospects,’ said Xiaodong Yang, MD, PhD, President & CEO of Apexigen. ‘This funding gives us the financial strength to complete the transition from start-up to focus on the development of innovative new therapeutics. ”
‘The Board is clearly pleased to have secured this strategic financing, which is yet another demonstration of the remarkable performance of the management team,’ said Kenneth Fong, Chairman of the Board of Directors.
Since its founding in 2010, Apexigen has advanced its APX005 lead program and established a network of partnerships that broadens the use of its proprietary monoclonal antibody technology platform and advances the development of its pipeline product candidates. Four new corporate partnerships have been established and 4 INDs have been established for products developed using proprietary technology from Apexigen; 2 of these products are currently being tested in Phase 1 by Apexigen’s partners.
APX005 is a promising immunotherapy capable of destroying tumor and tumor stroma through a number of distinct mechanisms of action. APX005 is a strong CD40 agonist that can stimulate anti-tumor immune responses by binding CD40 molecules to the antigen presenting cells and activating co-stimulatory immune pathways to boost tumor-specific immunity In addition, APX005 can also trigger direct tumor killing
Series A-1 financing was led by Amkey Ventures LLC and major investors included WSR Capital, China Development Industrial Bank, Themes Investment Partners and Sycamore Ventures. In conjunction with the funding, George J. Lee, Ph, man. D. D. , General Partner of Amkey Ventures, has joined the Board of Directors of Apexigen
About the Apexigens:
Apexigen is a biopharmaceutical product development company developing a pipeline of novel product candidates with the potential to address life-threatening and disease-difficult treatment. The proprietary technology platform of the company enables the discovery and development of superior antibody product candidates capable of impacting previously inaccessible disease targets.
Apexigen is actively pursuing product development, both on its own and in collaboration with partners. The product portfolio of the company consists of humanized antibodies, targeting diseases such as cancer, inflammatory diseases and ophtalmic diseases. Apexigen’s technology platform and product pipeline have been validated by a number of product development and antibody technology partnerships. Through successful collaborations, Apexigen is able to develop a broad base of antibody products and promote the wider use of its antibody technology platform. Additional information can be found at The Apexigens Com
