arGEN-X, a Breda, The Netherlands- and Zwijnaarde, Belgium-based clinical state human therapeutic antibody company, raised an additional €5m as an extension of its Series B financing round from new investor PMV.
The Series B round, which had its first close in December 2011 (read here), now amounts to €32.5m.
The company intends to use funds to accelerate its ARGX-113 preclinical program towards clinical development.
Led by Tim Van Hauwermeiren, CEO, arGEN-X is advancing ARGX-113, a novel therapeutic approach which 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.