AbGenomics International has raised $9.6 million in current financing round. The company will use the raised amount to continue advancing its therapeutic antibodies for autoimmune diseases and cancers.
AbGenomics' lead drug candidate AbGn-168H, a first-in-class humanized monoclonal antibody that specifically depletes chronic activated T cells for the treatment of autoimmune diseases, is in phase II clinical trials for psoriasis. The evaluation of additional AbGn-168H trials for Crohn's/IBD, type-I diabetes, MS, and RA indications are ongoing. The company plans to advance another therapeutic candidate, AbGn-107, an antibody drug conjugate with fully owned first-in-class linker-payload, into phase-I clinical trial for the treatment of pancreatic and stomach tumours early next year.
"We are delighted to have the continuing support of our investors. This round of financing provides AbGenomics additional capital to continue its clinical-stage programs through proof of concept for addressing major unmet needs in autoimmune diseases and advance its first-in-class antibody drug conjugate technology for cancers," said Dr Rong-Hwa Lin, founder and CEO of AbGenomics.
AbGenomics is a biopharmaceutical company focused on the discovery and development of novel medicines to treat diseases with unmet medical need and significant market potential.