arGEN-X announced the closing of a $37 million Series B fundraising round, which was oversubscribed.
The fundraising was co-led by OrbiMed Advisors and Seventure Partners, with the existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital, and VIB also participating. OrbiMed’s founding partner, Mike Sheffery, MD, will join the arGEN-X supervisory board.
arGEN-X is developing a pipeline of human antibody products from its Simple Antibody platform. The company has five therapeutic programs under development for the treatment of autoimmune disorders, inflammation and oncology, with two in formal preclinical development. arGEN-X’ program, ARGX-110, addresses a clinically validated cell surface receptor implicated in autoimmunity and cancer and has been shown in preclinical models to modulate target function with potency. arGEN-X expects to file an IND application for ARGX-110 in early 2013.
Release Date: Dec. 1, 2011