Apexigen, Inc., a San Carlos, Calif.-based clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology, completed a $65m equity financing.
The round was led by Decheng Capital and new investor Oceanpine Capital and included participation from other new and existing investors. This financing is an extension of the Series C financing of $58m, which was previously announced in August 2018, bringing the total amount raised in the Series C to $123m. The completion of the Series C financing brings the total equity raised to date by the company to $158m.
Apexigen intends to use these proceeds to support the ongoing clinical development of its lead immunotherapeutic, APX005M, a monoclonal antibody targeting CD40. Currently, APX005M is in multiple Phase 2 clinical trials to treat different types of solid tumors. The funds will also be used to develop the company’s pipeline of therapies, including the advancement of at least one new proprietary immunotherapeutic product candidate into Phase 1 clinical development.
Led by Xiaodong Yang, M.D., Ph.D., President and Chief Executive Officer, Apexigen is a clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology. APX005M and other programs were discovered using its proprietary APXiMAB™ discovery platform, which has enabled the company and its collaboration partners to discover and develop high-quality therapeutic antibodies against a variety of molecular targets, including targets that are difficult to drug with conventional antibody technologies. Seven product or product candidates discovered using APXiMAB are currently commercially available or in clinical development, either internally by Apexigen or by its licensees.