ImmuneXcite, a Lexington, MA-based biopharmaceutical company, secured $3.58m in a second funding round.
Backers included new and existing investors.
The round is in addition to the $2.42m the company raised in 2011 in its first round of financing (read here) and an accelerator loan for about $1m from the Massachusetts Life Science Center (read here).
The company intends to use the funds to move its antibody-carbohydrate mAbXcite conjugates toward an IND (investigational New Drug) filing.
Founded based on research originating from the Whitehead Institute at MIT by Yaniv Bejerano, CEO, ImmuneXcite has developed an immunotherapy platform, which targets cancer cells for destruction by engaging neutrophils, the most abundant and potent white blood cells. Neutrophils provide the body’s first line of defense against fungal and bacterial infections, but are not typically involved in cancer immunotherapy.