24 Sep Amphivena Closes $62 Million Series C Financing to Expand the Clinical Development of AMV564 into Solid Tumors and to Develop its T Cell Engagement Portfolio
South San Francisco, CA —September 24, 2019 — Amphivena Therapeutics, Inc., a private clinical stage immuno-oncology company developing T cell engager therapeutics for cancer, announced today the closing of a $62 million Series C financing. The round was co-led by NanoDimension and Qiming Venture Partners USA, and included new investors Clough Capital, Aju IB, Korys Merieux, Kaitai Capital, Industrial Investors, Nawton Limited and insiders MPM Capital, funds managed by Tekla Capital Management LLC and Franklin Berger.
“AMV564 is a T cell engager that selectively eliminates myeloid-derived suppressor cells (MDSC) in cancer patients while sparing normal neutrophils and monocytes. Its unique activity and excellent safety profile positions AMV564 well, as monotherapy or in combination with other agents, for the treatment of hematologic malignancies and solid tumors,” said Jeanmarie Guenot, Ph.D., Amphivena Chief Executive Officer and President.
“The Series C financing is an endorsement by new and existing investors of our leadership in the evolving T cell engagement space,” said Peter Van Vlasselaer, Ph.D., Executive Chairman. “This funding enables us to study the therapeutic impact of selective MDSC removal in both hematologic and solid cancers and to advance AMV564 and our novel T cell engagement portfolio to the forefront of immuno-oncology.”
AMV564 is a bivalent, bispecific (2:2) T cell engager that binds CD33 and CD3. To date, over 50 patients have received AMV564 in two Phase 1 clinical trials for acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). It is currently being evaluated in a First-in-Human Phase 1 trial in patients with relapsed/refractory AML at Washington University School of Medicine, MD Anderson Cancer Center, New York-Presbyterian/Weill Cornell Medical Center and Weill Cornell Medicine, Fred Hutchinson Cancer Research Center, The Ohio State University Wexner Medical Center, University of Pennsylvania Medical Center, Northwestern Memorial Hospital, and The Johns Hopkins Hospital.
The safety, efficacy and selectivity of AMV564 was highlighted most recently at both the 24th European Hematology Association (EHA) meeting in Amsterdam (Abstract S877) and at the 60th Annual Meeting of the American Society of Hematology in San Diego, CA last December. Amphivena believes that AMV564 has demonstrated novel clinical activity by rapidly and selectively eliminating leukemic blasts and rare immature, granulocytic and monocytic MDSCs while sparing normal CD33-expressing cells, including neutrophils and monocytes.
AMV564 is also being evaluated in a Phase 1 solid tumor study which is currently open to enrollment.
Amphivena Therapeutics, Inc. is an immuno-oncology company based in South San Francisco, CA that is developing best-in-class T cell engagers for cancer. The company’s lead therapeutic candidate, AMV564, is a bivalent, bispecific CD33/CD3 T cell engager that potently and selectively eliminates leukemic blasts and myeloid derived suppressor cells (MDSC), sparing normal myeloid cells (e.g., neutrophils and monocytes). AMV564 has an excellent safety profile that enables competitive approaches, including combination therapy, and provides a unique opportunity to explore the role of MDSC in solid tumors.
Amphivena has raised $88.5 M to date in Series A, B and C venture financings led by NanoDimension, Qiming Venture Partners USA, MPM Capital and funds managed by Tekla Capital Management LLC. For more information, please visit www.amphivena.com.
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