ActoGeniX, a clinical stage biopharmaceutical company, successfully closed a Series B equity financing round, raising EUR 10.7 million (USD 14 million). This financing round was led by new investor Saffelberg Investments (Belgium). ActoGeniX’s founders and current investors all participated in this transaction, thus confirming their commitment to the strategic roadmap.
This financing round will allow ActoGeniX to execute its business strategy and fund ongoing and planned development programs.
ActoGeniX focuses on the development and commercialization of ActoBiotics™, a novel class of orally administered and locally acting biopharmaceuticals. ActoBiotics™ represent a novel concept for oral administration of therapeutic proteins, and are designed to be safer and more effective than injectablebiopharmaceuticals.
ActoGeniX is developing ActoBiotics™ in mucosal and immune diseases such as oral mucositis, inflammatory bowel disease, celiac disease, and type 1 diabetes.
Dr. Bernard Coulie, CEO of ActoGeniX, comments: “We are delighted with this financing, accomplished in a challenging market environment. It provides ActoGeniX with sufficient funding to execute its ambitious business plan. It will enable us to progress our pipeline including bringing key products to clinical proof of concept.”
Dr. Staf Van Reet, Chairman of the Board of ActoGeniX, adds: “To have raised such a substantial amount of new equity capital during these times is a clear vote of confidence in ActoGeniX´s promising platform and pipeline. It provides ActoGeniX with a far stronger position when presenting its platform and pipeline to potential pharma partners.”
About ActoGeniX
ActoGeniX is a biopharmaceutical company focused on the development and commercialization of ActoBiotics™, a novel class of orally available biopharmaceuticals for the targeted treatment of severe diseases with a high medical need. ActoBiotics™ represent a novel concept for oral administration of therapeutic proteins, and are designed to be safer and more effective than injectable biopharmaceuticals. ActoBiotics™ can deliver a wide range of therapeutic peptides and proteins, including cytokines, enzymes, hormones and monoclonal antibodies.
AG013, ActoGeniX´s lead product for the treatment of oral mucositis in cancer patients has been evaluated in a phase 1B clinical trial in the US, confirming safety and tolerability as well as initial efficacy. Moreover, in preclinical models, ActoGeniX has confirmed the broad applicability of ActoBiotics™ and its proprietary technology platform for a wide range of diseases, including gastrointestinal, metabolic, immune diseases and allergies.
ActoGeniX was founded in 2006 as a spin-off from VIB and Ghent University. The Company is headquartered in Ghent (Belgium) and employs approximately 20 employees, half of whom are PhD’s, MD’s, or PharmD’s. To date, ActoGeniX raised EUR 46.2 million (USD 60 million) in three equity financing rounds from a consortium of leading life sciences investors such as Gimv, Biotech Fund Flanders, Baekeland Fund, Biovest, Saffelberg Investments (Belgium), Life Sciences Partners, Aescap Venture (The Netherlands) and Ventech (France).
ActoGeniX has a strong and broad intellectual property position with a patent estate encompassing more than 20 distinct patent families. With broad patent claims already granted in major territories like the US and Europe, ActoGeniX is uniquely positioned to successfully exploit the commercial potential of its promising ActoBiotics™.
www.actogenix.com
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For further information:
ActoGeniX
Dr. Bernard Coulie, CEO - Tel. +32 (0) 9 261 06 00 – oreaneq.pbhyvr@npgbtravk.pbz
Press contact:
Across
Luc Osselaer – Tel +32 (0) 476 45 15 01 – yhp.bffrynre@n-pebff.pbz
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