Advertise With UsAdvertise on our extensive network of industry websites and newsletters.
Get the PBR newsletterSign up to our free email to get all the latest PBR
news.Ambrx, a clinical stage biotechnology company that discovers and develops first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates, has closed a $45m round of financing led by Apricot Capital and Northeast Securities Prosperity Healthcare Fund.
Subscribe to our email newsletter
Also participating in this round were Sinopharm Capital, Humanwell Healthcare Fund. Existing investors Fosun Pharma, HOPU Investments and Everbright Limited Healthcare Fund participated in the financing.
The Company plans to use the proceeds of this financing to advance the development of its Phase I clinical asset – ARX788, and its current pipeline of ADC product candidates into human clinical studies, as well as its lead immuno-oncology program –CD3-Folate.
Ambrx CEO Alex Qiao said: “The new investors along with our existing investors brought together a perfect combination of strategic pharmaceutical investments as well as top tier private financial investments. This clearly shows the confidence from the investors in the Ambrx technology platform for its broad impact and great potential in biological drug development.
“The new funding resources will allow us to accelerate the development of our programs, and to make improvements to our technology platform.”