AsclepiX secures $10 million in Series A-3 financing round
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Key takeaways:
- AsclepiX has closed a $10 million Series A-3 financing round.
- The funding will be used to advance a phase 1/2a study investigating AXT107 for the treatment of age-related macular degeneration.
AsclepiX Therapeutics has secured $10 million in Series A-3 financing to advance the development of its lead clinical candidate, AXT107, for the treatment of neovascular retinal diseases, according to a press release.
The financing was led by Perceptive Advisors and joined by Hibiscus Capital Management Fund II, Rapha Capital Management and its managed fund, Rapha Capital PE Life Sciences Fund VI, as well as a new outside investor.
The funding will be put toward the execution of a phase 1/2a trial that will investigate AXT107 (gersizangitide) as a treatment for wet age-related macular degeneration. The integrin regulating peptide is designed to inhibit neovascularization, reduce vascular permeability and suppress inflammation, according to the release.
“With the completion of this round, we are excited to embark into the next phase of our clinical development program,” Amir Shojaei, PharmD, PhD, chief scientific officer and executive vice president of clinical development at AsclepiX, said in the release. “The DISCOVER study, utilizing AXT107 microparticulate suspension, will evaluate the safety and tolerability of three doses of AXT107 in patients with wet AMD. We look forward to announcing the initiation of enrollment in early 2024.”
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