AsclepiX Therapeutics – a clinical-stage biotech company leveraging computational biology from Johns Hopkins to identify and develop peptides for improved treatments of retinal diseases – recently announced that it has secured a $10 million Series A-3 financing.
This funding round was led by Perceptive Advisors with participation from the existing investors Hibiscus Capital Management Fund II and Rapha Capital Management and its managed fund, Rapha Capital PE Life Sciences Fund VI, in addition to a new outside investor.
The lead clinical candidate integrin regulating peptide AXT107 (gersizangitide) has a novel mechanism of action that inhibits neovascularization, reduces vascular permeability, and suppresses vascular inflammation. And as presented in a microparticulate suspension, AXT107 may be capable of maintaining sustained biological activity with one injection well beyond current standard of care.
KEY QUOTES:
“With the completion of this round, we are excited to embark into the next phase of our clinical development program. The DISCOVER study, utilizing AXT107 microparticulate suspension, will evaluate the safety and tolerability of three doses of AXT107 in patients with wet AMD. We look forward to announcing the initiation of enrollment in early 2024.”
— Dr. Amir Shojaei, Chief Scientific Officer and Executive Vice President, Clinical Development
“Despite the challenging investment climate, the successful raise is a testament to the technology. We have great confidence in the AsclepiX leadership team, the potential of AXT107 as a novel approach to treat neovascular retinal diseases, and the financial return on our investment.”
— Chris Garabedian, Board Director
