TAIPEI, July 1, 2024 /PRNewswire/ -- Anbogen
Therapeutics, Inc., a clinical-stage company dedicated to
developing breakthrough cancer therapies, has announced the
successful closing of a USD 7.3M
oversubscribed A+ round financing, which is a direct continuation
of the USD 12.5 Million Series A on
1st February, 2024, bringing the total raised to
USD 19.8M. The funds from the A+
round will be specifically used to advance the Phase II clinical
trial of ABT-301. The financing round was led by KGI Venture
Capital and both new and existing investors.
The capital raised in the A+ round will primarily be used to
support the Phase II clinical trial of ABT-301 in combination with
PD-1 inhibitors for treating microsatellite stable (MSS) metastatic
colorectal cancer, which accounts for 95% of the metastatic
colorectal cancer population that does not benefit from immune
checkpoint inhibitors. Previous preclinical studies have repeatedly
showed that ABT-301, when combined with immune checkpoint
inhibitors, exhibits remarkable synergistic therapeutic effects in
various solid tumor models, including subcutaneous xenograft and
orthotopic models of colorectal cancer, liver cancer,
triple-negative breast cancer, and head and neck cancer.
Given these promising results, Anbogen decided to proceed with
the A+ round of financing to secure the necessary funds for
ABT-301's clinical trial, without impacting the ongoing Phase II
development of ABT-101.
Leveraging ABT-301's compelling immunomodulatory and synergistic
effect combined with PD-1 treatment that Anbogen
has observed, we have successfully engaged pharmaceutical
companies who will agree to enter PD-1 drug-supply agreement
with Anbogen. This collaboration will enable Anbogen to optimize
its resource allocation and underscores the strong recognition of
both ABT-301 and Anbogen.
"We are deeply grateful to our investors for their continued
support and confidence in our mission," says Dr. Tsu-An Hsu, CEO of Anbogen Therapeutics. "This
funding is crucial for the advancement of ABT-301 combo with immune
checkpoint inhibitors treating solid tumors, and it validates our
ongoing efforts to bring effective cancer treatments to patients in
need."
About Anbogen:
Anbogen is a clinical-stage biotechnology company dedicated to
developing precision anti-cancer drugs and is committed to R&D
innovations to improve the lives of cancer patients around the
world. The company was founded by Dr. Joe
Shih, in response to the national science and technology
policy. The team has years of experience in new drug development
while working at the National Health Research Institutes or
biopharma companies.
Two of its drugs, ABT-101 for non-small cell lung cancer (NSCLC)
with HER2 exon20 insertion mutations and ABT-301(combine with
immune checkpoint inhibitors) for metastatic colorectal cancer, are
currently in human clinical trials. For more information, please
visit Anbogen's official website (www.anbogen.com).
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