Akeso, Inc., a Zhongshan, China-based biopharmaceutical company focusing on new innovative antibody drug discovery and development in oncology and immunology therapeutic areas, completed its Series-D private financing for nearly US$150m.
The round was led by Loyal Valley Capital and Sino Biopharmaceutical Co. Ltd., and co-invested by international healthcare specialists including Lake Bleu Capital, AIHC Capital, OrbiMed, along with other investors including Shenzhen Capital Group Co., CDG International Company limited, etc.
The company intends to use the funds to accelerate clinical trials of new drug programs, develop R&D of innovative drugs pipelines, and expand its global presence including new clinical trials in USA, as well as manufacturing capabilities.
Led by Dr. Xia Yu, CEO, President and founder, Akeso is a clinical-stage biopharmaceutical company committed to in-house discovery and development of innovative mono- and bi-specific antibody drugs. The company has developed a pipeline of bispecific antibodies centered around PD-1 as the lead target.
The products in advanced development include:
– an anti-PD-1/CTLA-4 bi-specific antibody (AK104),
– an anti-PD-1 antibody (AK105), an anti-PD-1/VEGF bi-specific antibody (AK112) and
– an anti-VEGFR2 antibody (AK109).
In immunology therapeutic area, the company has built a broad pipeline targeting autoimmune diseases among China-based pharmaceutical companies. Key product candidates in this area include anti-IL12/IL23 monospecific antibody (AK101) and an anti-IL17 monospecific antibody (AK111).