AsclepiX Therapeutics, Inc., a Baltimore, MD-based biopharmaceutical company that uses computational biology to identify potent peptide regulators of vascular homeostasis for the treatment of retinal and other important diseases, closed a $35m Series A financing.
The round was led by Perceptive Xontogeny Venture Fund with participation from the Perceptive Life Sciences Fund, both funds managed by Perceptive Advisors, and existing investors Rapha Capital Management and Barer & Son Capital. Joining the AsclepiX Board of Directors as part of this financing will be Chris Garabedian, Manager, PXV Fund, Perceptive Advisors and Ben Askew, Ph.D., Partner, R&D, Xontogeny.
Co-founded by Aleksander S. Popel, Ph.D. and Jordan J. Green, Ph.D. from the Johns Hopkins University School of Medicine and currently led by interim Chief Executive Officer, Board Director, and Founder of Rapha Capital Management, Kevin Slawin, M.D., and Theresa Heah, M.D., Chief Medical Officer and EVP of Operations, AsclepiX Therapeutics is a biopharmaceutical company using computational biology to identify potent peptide regulators of vascular homeostasis that is disrupted in retinal and oncologic diseases. The novel clinical candidate peptides discovered by the company tap into these naturally existing self-regulating mechanisms that the body uses to maintain homeostasis and thus restore and maintain health.
The company intends to use the funds for Phase 1/2a clinical trials of AXT107, its lead investigational drug, for the treatment of diabetic macular edema (DME), wet age-related macular degeneration (wet AMD) and macular edema secondary to retinal vein occlusion (RVO).
AXT107 has a dual mechanism of action targeting vascular endothelial growth factor (VEGF) and Tie2 and has preclinically shown long durability and drug delivery properties that may offer an improved treatment option for patients.