Based in Japan and India. Has led to 1 successful fundraise in Japan. Been working the space of Venture Capital and Private Equity for the last 3 years.

Avaxia Biologicals, Inc. , a clinical-stage biopharmaceutical company developing intestinal therapy, today announced that it has raised $6. $4 million in Series B funding The round was led by Cherrystone Angels, an existing investor and Golden Seeds, a new investor. Existing investors Beacon Angels, Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels and North Country Angels also participated in the round; new investors Beta Fund, Granite State Angels, Keiretsu Forum and Maine Angels; and individual investors Avaxia plans to use the proceeds to fund a phase 1b first-in-human clinical trial of its oral anti-TNF antibody, AVX-470, for the treatment of ulcerative colitis. As an intestinal therapy, AVX-470 is designed to act locally in the gastrointestinal tract to suppress inflammation and treat inflammatory bowel disease (IBD), which includes ulcerative colitis and Crohn’s disease. In November 2012, Avaxia announced that its investigational new drug (IND) application had been cleared by the FDA, with patient enrolment expected to begin in early 2013.

“Avaxia truly appreciates the funding we received from our investors in this round of financing. Their support allows us to begin clinical development of AVX-470 in patients with ulcerative colitis,” said Barbara S. Fox, Avaxia CEO “Our goal is to provide new first-line therapy to patients with inflammatory bowel disease by combining the efficacy of existing anti-TNF therapy with a lower risk of hazardous immunosuppressive side effects. “That’s right.

“We are encouraged by the promising preclinical data from AVX-470 and the potentially large market for oral, targeted, anti-TNF antibody treatment for IBD,” said Nada Jain of Golden Seeds. “We are pleased to support Avaxia’s dedicated team in starting the clinical development of its lead candidate and promoting other intestinal therapy based on its novel antibody platform. “That’s right.

“The Avaxia team has impressed us with their ability to run the AVX-470 program,” said Robert J. Maning of the Angels of Cherrystone “IBD is a devastating disease with a huge unmet medical need despite the availability and effectiveness of current anti-TNF therapy products. Over time, AVX-470 may offer millions of IBD patients an important new treatment option. “That’s right.

Inflammatory bowel disease

Inflammatory bowel disease (IBD) is a serious disease with a major societal impact. IBD refers to two related but distinct diseases: ulcerative colitis and Crohn’s disease. More than two The IBD is afflicted by 5 million people These diseases cause chronic inflammation of the intestinal tract, leading to a variety of debilitating symptoms, leading to a significant reduction in the quality of life and risk of life-threatening complications and diseases, including cancer. IBD is a chronic disease characterized by periods of active disease alternating with periods of disease control (remission) The annual global market for IBD drugs exceeds $4. $5 billion, about $2 billion 5 billion of which represents sales of anti-TNF antibodies currently on the market.

About AVX—470

AVX-470 is an intestinal anti-TNF antibody that has the potential to be transformative first-line treatment for inflammatory bowel disease (IBD) Anti-TNF antibodies currently on the market have proven to be highly effective for IBD These antibodies are injected and then distributed throughout the body, where the immune system is suppressed to reduce inflammation. This untargeted suppression of the immune system can cause serious side effects, such as the reactivation of tuberculosis Due to these side effects, anti-TNF antibodies are most often used only as second-line or third-line therapy, despite evidence that earlier use could improve patient outcomes. AVX-470, on the other hand, is an oral anti-TNF antibody that targets its immunosuppressive effects on the gastrointestinal tract to minimize the potential for side effects in other parts of the body. This potential to limit immunosuppression to where the disease occurs differentiates AVX-470 from other anti-TNF antibodies and offers the possibility for AVX-470 to become a first-line therapy that transforms IBD therapy. Avaxia plans to begin the phase 1b clinical trial of AVX-470 in patients with ulcerative colitis at the beginning of 2013.

Avaxia Biologics

Avaxia is a leader in the growing field of intestinal therapy-orally administered, minimally absorbed drugs designed to act locally in the gastrointestinal tract. Avaxia’s leading clinical candidate, AVX-470, is an oral anti-TNF antibody for inflammatory bowel disease. This transformative product offers potentially improved safety and efficacy over existing anti-TNF therapies by focusing immune suppression only where it is needed in the intestine. Avaxia uses its proprietary oral antibody platform to develop intestinal therapy to address many other serious diseases such as type 2 diabetes, celiac disease, acute GI radiation syndrome and oral mucositis. Avaxiabiology Com

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