AsclepiX Therapeutic, Inc. , a biopharmaceutical company that uses computational biology to identify potent peptide regulators for vascular homeostasis for the treatment of retinal and other major diseases, today announced that it has closed $35 million in Series A funding under the Perceptive Xontogeny Venture Fund (PXV Fund) with participation from the Perceptive Life Sciences Fund, both of which are managed by Perceptive Adv.
“We are pleased to lead this funding, which is expected to be advanced by AXT107 through three test-of-concept studies in key indications and has the potential to improve existing therapies and bring innovative treatment to patients suffering from retinal disease. “That’s right.
The proceeds from the funding will finance Phase 1/2a clinical trials of AXT107, the Company’s lead investigational drug, for the treatment of diabetic macular edema (DME), wet age-related macular degeneration (wet AMD) and macular edema secondary to retinal vein occlusion (RVO) AXT107 has a dual mechanism of action targeting Vascular Endothelial Growth Factor (VEGF) and Tie2 and has preclinically demonstrated long-lasting and unique drug delivery properties that may provide improved treatment options for patients.
“We are excited to welcome Perceptive Advisors and their PXV Fund to lead this funding and look forward to taking advantage of their deep expertise and track record in identifying promising new therapeutics to invest in,” said Steven M. Ancient schooler, M D. D. , Chair of the Board of AsclepiX and former chairman and co-founder of Spark Therapeutics “This investment represents a watershed moment for AsclepiX and provides transformative support for our vision to revolutionize retinal disease therapy and ultimately apply our computational technology platform to discover new clinically active molecules. “That’s right.
Currently available VEGF-inhibiting therapies have revolutionized the management of retinal vascular diseases, but are indicated for repeated intravitreal injections every one to three months. This results in a significant treatment burden and many patients ultimately receive less than the recommended number of injections resulting in suboptimal visual outcomes. More importantly, the proportion of eyes cannot achieve optimal visual outcomes even when receiving anti-VEGF therapy at recommended intervals. The potential for AXT107, if approved, is to provide best-in-class efficacy coupled with convenient once-a-year dosing that could transform the treatment of retinal disease.
Theresa Heah, D. D. , Chief Medical Officer and TEU of Operations at AsclepiX, added, “We look forward to advancing our clinical program with AXT107 in three indications, wet AMD, DME and RVO and expect to initiate clinical trials at 2H2020. Our clinical development program for AXT107, with a novel mechanism of action and a unique drug gel depot, can lead to innovative new treatment options, provide sustained vision gains with a longer duration of action, for the benefit of our patients and caregivers, and create value by reducing the treatment burden to the benefit of ophthalmologists and payers. “That’s right.
“We see AsclepiX as having a highly promising novel technology and a leading candidate who has the potential to be the best-in-class in the treatment of retinal diseases. Our interest in investing was based on robust and compelling data on animal models and their willingness to move towards clinical development in the near term,” said Chris Garabedian, Managing Director of the PXV Fund for Perceptive Advisors and CEO of Xontogeny. “We are pleased to lead this funding, which is expected to be advanced by AXT107 through three test-of-concept studies in key indications and has the potential to improve existing therapies and bring innovative treatment to patients suffering from retinal disease. “That’s right.
AsclepiX was a co-founder of Aleksander S. Popel, Ph’s D. D. And Jordan J’s Green, Ph.D. D. D. The Johns Hopkins University School of Medicine is currently headed by Kevin Slawin, Deputy Chief Executive Officer, Board Director, and Founder of Rapha Capital Management. D. D. Chris Garabedian, Manager, PXV Fund, Perceptive Advisors and Ben Askew, Ph.D., will also join the AsclepiX Board of Directors as part of this funding. D. D. , R&D Partner, Xontogeny
AsclepiX Therapeutics, Inc.
AsclepiX Therapeutic Inc. Is a biopharmaceutical company that uses computational biology to identify potent peptide regulators for vascular homeostasis that are disrupted in retinal and oncological diseases. The novel clinical candidate peptides discovered by AsclepiX tap into these naturally existing self-regulatory mechanisms, which have evolved over millions of years, which the body uses to maintain homeostasis and thus restore and maintain health. AXT107, the investigational product and the lead clinical candidate, has a unique mechanism of action that focuses on clinically proven pathways for retinal disease. AXT107 is scheduled to enter the clinic at the end of 2020. Find out more at www Asclepix is Come on,
AXT107 About
AXT107 is a research drug candidate with the potential to be best-in-class monotherapy that inhibits VEGF-A and VEGF-C and activates Tie2 for the treatment of diabetic macular edema (DME), wet age-related macular degeneration (wet AMD) and macular edema secondary to retinal vein occlusion (RVO) AXT107 emerged from the AsclepiX computational biology-based discovery platform and is derived from a collagen IV cryptic peptide that works by activating naturally existing, homeostatic mechanisms of angiogenesis. Due to its long half-life and intravitreal gel formation, AXT107 may potentially be administered in no more than one intravitreal injection per year, which could dramatically reduce the treatment burden associated with standard therapies. AXT 107 is scheduled to enter human clinical trials at the end of 2020.
The Perceptive Xontogeny Venture Fund
Established in 2018, the Perceptive Xontogeny Venture Fund (PXV Fund) focuses solely on private investment in early life science companies. The primary source of investment for the PXV Fund are companies that are seeded, incubated and/or actively managed by Xontogeny, a life science accelerator that provides experienced operational support to successfully and efficiently advance early stage companies. The PXV Fund is a subsidiary of Perceptive Advisors, a New York City-based investment management firm founded in 1999 and focused on supporting the advancement of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare. For more information on Perceptive, visit www. Perceptional life Come on,
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