Date: 2011-12-04
Type of information: Fundraising
Company: Argen-X (The Netherlands-Belgium)
Investors: OrbiMed Advisors (USA) - Seventure Partners (France) - Forbion Capital Partners (The Netherlands)- Credit Agricole Private Equity (France) - LSP (the Netherlands-Germany-USA) - BioGeneration Ventures (The Netherlands) - The Erasmus Biomedical Fund (The Netherlands) - Thuja Capital (The Netherlands) - VIB (Belgium) - PMV (Belgium)
Amount: € 32.5 million
Funding type: series B financing round
Planned used: Funds will be used to progress differentiated therapeutic antibody programs into clinical development. arGEN-X is developing a highly innovative pipeline of human antibody products from its proprietary SIMPLE Antibody™ platform. The Company has five therapeutic programs under development for the treatment of autoimmune disorders, inflammation and oncology, with two now in formal preclinical development. Its most advanced program, ARGX-110, addresses a clinically validated cell surface receptor implicated in autoimmunity and cancer and has been shown in preclinical models to modulate target function with unrivalled potency. arGEN-X expects to file an IND application for ARGX-110 in early 2013.
Others: * On November 4, 2013, arGEN-X, a clinical stage human therapeutic antibody company, has raised € 5 million ($6.8 million) as an extension of its series B financing round from the Flemish investment company PMV as a new investor. arGEN-X’ series B round, which had its first close in December 2011, now totals € 32.5 million ($44 million). The proceeds will be used to accelerate the Company‘s ARGX-113 preclinical program towards clinical development. ARGX-113 is a novel therapeutic approach to virtually any antibody-mediated pathology. ARGX-113 exploits arGEN-X’ proprietary ABDEG™ technology which clears and degrades systemic disease-causing autoantibodies. ARGX-113 is applicable to most autoimmune diseases (e.g. rheumatoid arthritis, systemic lupus erythmatosus), including unmet orphan indications (e.g. myasthenia gravis, immune thrombocytopenic purpura, Kawasaki disease). ARGX-113 has also a potential use in other therapies where anti-drug antibodies eventually reduce or neutralize the effect of therapeutic proteins.
* On December 1, 2011, arGEN-X, a biopharmaceutical company focused on the discovery and development of human monoclonal antibodies from its proprietary SIMPLE Antibody™ platform, has closed a € 27.5 million (USD 37 million) Series B fundraising round, which was oversubscribed. The fundraising was co-led by OrbiMed Advisors (USA) and Seventure Partners (France), with the existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB also participating. OrbiMed’s founding partner, Dr Mike Sheffery, will join the arGEN-X Supervisory Board.
Therapeutic area: Autoimmune diseases - Cancer - Oncology
