Funding to speed up medical development of Iksuda’s pipeline of latest technology of antibody drug conjugates, focusing on tumours with excessive unmet want
Funding spherical led by Korean-based Mirae Asset Capital and Celltrion
Iksuda Therapeutics (Iksuda), the developer of a brand new technology of antibody drug conjugates (ADCs) with raised therapeutic index, right this moment introduced it has accomplished a US $47 million (circa GB £34 million) financing spherical, co-led by Mirae Asset Capital and its subsidiaries, Celltrion and Premier Companions, with the Firm being suggested by Ashfords LLP. The funding will assist the development of Iksuda’s lead ADC property and growth of its payload and conjugation platform applied sciences.
Iksuda’s lead pre-clinical candidate, IKS03, is a best-in-class CD19-targeted ADC candidate for B-cell cancers. The funding will allow development of IKS03 to first-in-human part 1 medical trials. It can even be used to speed up the Firm’s earlier-stage programmes together with IKS04 and IKS012 to IND submitting.
Iksuda’s ADC programmes goal tumours that at present have restricted remedy choices and excessive relapse charges. The Firm’s drug growth pipeline is centred on the improved security and efficacy conferred by tumour activated, prodrug payloads together with secure conjugation applied sciences, together with its proprietary novel PermaLink® platform. Iksuda’s research-stage pipeline utilises its proprietary Protein Alkylating (ProAlk) tumour-activated payload platform, not too long ago licensed from Göttingen College1. The novel mode of motion for the ProAlk tuneable payload sequence differs from the sphere’s major focus of intra- or DNA inter-strand cross-linking, conferring advantages in opposition to drug and tumour resistance mechanisms, and enabling the event of extra highly effective, extra tolerable ADCs.
Dr Dave Simpson, Chief Govt Officer, Iksuda Therapeutics, mentioned: “This can be a transformational funding milestone for Iksuda, enabling us to concentrate on the development of our industry-leading ADC programmes and convey them to the clinic, while supporting our business progress. The funding not solely displays the potential of our applied sciences, but in addition the unrivaled experience of the Iksuda workforce. We’re grateful for the assist of this group of traders and delighted to welcome them to the workforce.”
Ji Kwang Chung, Investor, Mirae Asset Capital, commented: “We have been extremely impressed with Iksuda’s strategy and progress up to now, and with the Firm’s management. We’re delighted to guide this funding spherical, and to contribute to enabling the workforce to progress its very promising pipeline of ADC candidates.”
Woosung, Kee, CEO, Celltrion Inc., added: “By pursuing tumours which are immune to present remedy approaches, Iksuda is extending the boundaries of ADC know-how, and consequently the remedy choices for sufferers. This ideally enhances Celltrion’s drive to pioneer uncharted areas of revolutionary therapies, incorporating distinctive and profitable next-generational approaches that promote well being and welfare globally. We have now been very impressed with Iksuda’s progress up to now and look ahead to working collectively to assist their mission.”
Press launch: Iksuda enters license settlement with College of Göttingen (13th October 2020) https://iksuda.com/2020/10/iksuda-enters-license-agreement-with-university-of-goettingen
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