Apitope, a Cardiff, Wales-based drug discovery and development company focused on treating the underlying cause of autoimmune diseases, raised €12m in Series B financing.
The round was led by new investor Wales Life Sciences Fund with participation from current investors Vesalius Biocapital, LRM, PMV and Wyvern and existing shareholders the Wellcome Trust. In conjunction with the funding, Brenig Preest, Wales Life Sciences Fund, will join the Apitope board.
The company, which will relocate its UK headquarters to Wales, intends to use the funds to progress the clinical development of its pipeline which includes therapies for Factor VIII intolerance in Haemophilia A patients and Graves’ disease.
Led by Dr Keith Martin, CEO, Apitope is a biotech company focused on the discovery and development of disease modifying therapies for autoimmune and allergic diseases, including multiple sclerosis, Graves’ disease, Factor VIII intolerance and uveitis. The company, whose first product candidate is licensed to Merck Serono, will now progress its remaining portfolio of product candidates developed with its proprietary platform technology.
Its lead product candidate, ATX-F8-117, has recently received orphan designations in both Europe and USA and targets Haemophillia A, a rare chronic bleeding disorder which leads to inadequate clotting of the blood in response to any type of injury or surgery.