Ambit Biosciences, a San Diego, CA-based biopharmaceutical company that develops kinase inhibitors for the treatment of cancer and other conditions, has completed a $30m Series D-2 equity financing.
The round was led by Apposite Capital LLP, with participation from existing investors Perseus-Soros Biopharmaceutical Fund, OrbiMed Advisors, Forward Ventures, Roche Venture Fund, MedImmune Ventures, GIMV, GrowthWorks, Genechem, Radius Ventures, NovaQuest and Horizon Technology Finance.
The company intends to use the funds to continue the clinical development of its lead product candidate, AC220, which is currently in a Phase 2 pivotal trial in Acute Myeloid Leukemia (the most common types of blood cancers in adults), and of other two clinical assets, AC480, a pan-HER inhibitor, and AC430, an oral JAK2 inhibitor, both of which are in Phase 1 trials.
Ambit is developing AC220 in collaboration with Astellas Pharma Inc.
The company is led by President and CEO Alan Lewis.