Ambrx closes $45M round of financing

SAN DIEGO, Aug. 4, 2016 /PRNewswire/ — Ambrx, Inc., a clinical stage biotechnology company that discovers and develops first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates, today announced that it has closed a $45 million round of financing led by Apricot Capital and Northeast Securities Prosperity Healthcare Fund. 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. “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,” said Alex Qiao, CEO of Ambrx. “The new funding resources will allow us to accelerate the development of our programs, and to make improvements to our technology platform.” ABOUT AMBRX Ambrx®, Inc. is a biopharmaceutical company with a mission to deliver breakthrough protein therapeutics using an expanded genetic code. Unlike conventional conjugation techniques that create a mixture of suboptimal molecules, Ambrx technology combines site specific conjugation with proprietary linkers, payloads and pharmacokinetic extenders to create a single molecular species that is optimized for safety, efficacy and biophysical properties. We call this process Protein Medicinal Chemistry™. Protein Medicinal Chemistry™ can optimize any protein or...

Ambrx and Zhejiang Medicine Co. Ltd initiated ARX788 First-In-Human phase I clinical trial in cancer patients

SAN DIEGO, March 21, 2016 – Ambrx and Zhejiang Medicine Co. Ltd. (ZMC) announced today that they initiated First-In-Human phase I clinical trial with ARX788, Ambrx’s most advanced internally developed site-specific antibody drug conjugate (ADC) targeting Her2. Ambrx ARX788 may hold the potential for a broader patient population than the currently available Her2 targeting therapies. The multicenter study will be conducted at several sites within Australia and New Zealand. The primary end point is safety and tolerability, and the pharmacokinetics of ARX788 will also be evaluated. The application for the initiation of clinical trial in China was submitted to the China FDA early this year. Ambrx and Zhejiang Medicine Co. Ltd entered into collaboration on June 14, 2013 to develop ARX788 into a world class standard in China. Zhejiang receives commercial rights in China while Ambrx retains commercial rights outside of China. WuXi Apptec provided preclinical services and successfully manufactured Ambrx site-specific ADC under CGMP regulation. “We are very happy about the collaboration with ZMC. This is an important milestone for this partnership,” said Alex Qiao, Chief Executive Office at Ambrx. “This is the first exciting step to demonstrate the clinical application of our proprietary EuCODE™ technology for the improvements of cancer patient lives. This is not only an important milestone for our ARX788 program, but also is a major event for our unique site specific protein conjugation technology platform as we hope to leverage this same technology to develop ADC drugs for a number of different cancers.” “We are very happy to see ARX788 entering into clinical trial,” Said Mr. Chunbo Li, chairman of ZMC. “We hope our collaboration...