IgGenix, a South San Francisco, CA-based pre-clinical biotechnology company, held the first close of its $40M Series B funding.
The round was led by Alexandria Venture Investments with participation from Eli Lilly and Company, as well as existing investors Khosla Ventures, Sean Parker, and AllerFund. In addition, Joel S. Marcus, executive chairman and founder of Alexandria Real Estate Equities, Inc. and Alexandria Venture Investments, has joined the IgGenix Board of Directors.
The company intends to use the funds to advance its lead program to Phase 1 human clinical trials and expand its discovery platform to encompass additional IgE-mediated disease beyond allergy.
Co-founded by Stephen Quake, D.Phil., Kari Nadeau, M.D., Ph.D., and Derek Croote, Ph.D. of Stanford University, IgGenix is an antibody discovery and development company taking a new approach to directly address severe allergies. Through its proprietary SEQ SIFTER discovery platform, developed from the foundational research of co-founders Stephen Quake, Kari Nadeau and Derek Croote of Stanford University, the company isolates and re-engineers fully human and allergen-specific IgG antibodies designed to block and prevent the allergic cascade. By targeting common immunodominant allergens and their most immunodominant epitopes across the patient population, the company intends to treat allergic pediatric and adult patients alike across severe food and environmental allergies. This novel approach may prevent life-threatening allergic reactions, saving lives and reducing the constant fear that affects millions of people living with severe allergies.
FinSMEs
07/02/2023