Ambrx, Inc., a San Diego, CA-based biopharmaceutical company, closed a $45m round of financing.
The round was led by Apricot Capital and Northeast Securities Prosperity Healthcare Fund with participation from Sinopharm Capital, Humanwell Healthcare Fund and existing investors Fosun Pharma, HOPU Investments and Everbright Limited Healthcare Fund.
Led by Alex Qiao, CEO, Ambrx is a clinical stage biotechnology company that discovers and develops optimized protein therapeutics known as bio-conjugates with the target to deliver protein therapeutics using an expanded genetic code. The technology combines site specific conjugation with proprietary linkers, payloads and pharmacokinetic extenders to create a single molecular species optimized for safety, efficacy and biophysical properties.
The company plans to use the proceeds to advance the development of its Phase I clinical asset – ARX788, and its current pipeline of ADC product candidates into human clinical studies, as well as its lead immuno-oncology program –CD3-Folate.