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 antibody to create potentially best-in-class...

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...

Ambrx Announces New Chief Medical Officer

SAN DIEGO, Nov. 16, 2015  Ambrx today announced the appointment of Yong-Jiang Hei, M.D., Ph.D. as Chief Medical Officer (CMO) reporting directly to CEO, Tiecheng “Alex” Qiao. With nearly 20 years of experience in pharmaceuticals and biotechnology, Dr. Hei brings to Ambrx broad knowledge and tremendous expertise in oncology clinical development as well as medical affairs.  Prior to Ambrx, Dr. Hei worked at Amgen for more than 9 years as an Executive Medical Director in global development where he led cross-functional teams to define product development strategies and clinical development plans for several late-phase oncology projects in various solid tumors.  He drove the design and execution of multiple clinical trials including a large randomized international phase 3 trial in non-small cell lung cancer (NSCLC).  Additionally, Dr. Hei spent three years in China as the medical head for Amgen China to build and establish a talented clinical medical team for Amgen China affiliate.  Before Amgen, Dr. Hei worked for Roche Laboratories, Inc., and Novartis oncology with increasing responsibilities in the capacity of US Medical Director for Roche, and Senior Global Brand Medical Director/Executive Director for Novartis Oncology where he led the development and execution of medical plans, expanded the investigator-initiated clinical research, and supported regulatory filings in the US, Japan, the EMEA, and China.  Dr. Hei received his medical degree from Shihezi Medical College in China, and graduate degrees from the West China University of Medical Sciences (M.Sc) and the University of British Columbia in Canada (Ph.D.).  He also trained in the Hospital for Sick Children in Toronto as a post-doctoral fellow in cancer biology.  “We are thrilled to have attracted...

Ambrx Names Dr. Tiecheng Qiao as CEO, Dr. Feng Tian as CSO

Ambrx Names Dr. Tiecheng Qiao as CEO, Dr. Feng Tian as CSO Executives Will Work With New Chinese Owners to Advance Technology and Product Pipeline San Diego, June 19, 2015 — 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 the appointment of Dr. Tiecheng (Alex) Qiao as CEO, effective immediately. Ambrx also announced that Dr. Feng Tian, formerly vice president of science and technology, China, has been promoted to the newly-created position of chief science officer, effective immediately.  Dr. Tian will report directly to Dr. Qiao. The appointments come as Ambrx marks an important milestone.  On June 17, 2015, Ambrx closed a merger with a Chinese consortium consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright Limited’s healthcare fund, and WuXi PharmaTech. The merger combines the resources of leading China-based life science companies and investors with a leading U.S.-based innovator in biologics development. With the agreement now in place, Ambrx has additional resources to advance the technology and product pipeline under development in its U.S. research center and to build a new global product development center in China. “Drs. Qiao and Tian are ideally qualified to lead Ambrx,” said Bing Li, a member of Ambrx’s board of directors. Dr. Qiao has founded and managed companies with U.S. and China technology operations, and Dr. Tian has a deep knowledge of Ambrx  and has acquired over 10-plus years of increasing responsibility for the company’s technology development.” Dr. Qiao has over 15 years of experience as an entrepreneur and senior manager in the life...

Chinese Consortium Enters into Agreement to Acquire Ambrx

SHANGHAI, May 21, 2015 /PRNewswire/ — A consortium (the “Consortium”) consisting of entities affiliated with Shanghai Fosun Pharmaceutical Group, HOPU Investments, China Everbright Limited’s healthcare fund (“CEL Healthcare Fund”), and WuXi PharmaTech announced today that the Consortium has signed a merger agreement pursuant to which the Consortium will acquire Ambrx Inc. The transaction is expected to close in the second quarter of 2015, subject to receipt of certain regulatory approvals and satisfaction of customary closing conditions. Other details of the transaction were not disclosed.Ambrx is a clinical-stage biotechnology company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company’s proprietary technology platforms enable attachment of pharmaceutically active molecules to specific sites within proteins more precisely than prior generations of bio-conjugates and with precision similar to that used to design small-molecule drugs. Ambrx has developed a pipeline of novel product candidates that include antibody-drug conjugates, or ADCs, bi- and multi-specific drug conjugates, and long-acting therapeutic proteins. ADCs are expected to be one of the most important areas of monoclonal antibody development in the next decade, especially in targeted therapies for oncology, an area where Ambrx has a strong internal pipeline. The company’s most advanced internally developed product is ARX788, a site-specific ADC targeting Her2-positive breast cancer that Ambrx expects to begin clinical trials on in 2015. In addition to its internal pipeline, Ambrx collaborates with leading pharmaceutical companies, including Bristol-Myers Squibb, Merck, Eli Lilly, and Agensys. Ambrx’s most advanced collaboration product candidate in human health is ARX618, a long-acting fibroblast growth factor 21 for type 2 diabetes, for which collaboration partner Bristol-Myers Squibb is conducting Phase...

Ambrx and Zhejiang Hisun Pharmaceutical to Collaborate on the Development and Commercialization of Bispecifics for Cancer

SAN DIEGO and TAIZHOU CITY, China, April 29, 2014 – Ambrx Inc. and Zhejiang Hisun Pharmaceutical Company Ltd. (SSE Code: 600267) today announced a collaboration for the development and commercialization of bispecifics based on Ambrx technology for the treatment of cancer.  Hisun will have commercial rights to the products in China, while Ambrx will retain commercial rights outside of China and will be entitled to receive royalties on sales of the products in China. Hisun will manufacture the product to cGMP standards for clinical and commercial supplies on a global basis. “This is a milestone for our company and a significant opportunity for us with Hisun as we develop bispecifics using our technology platform,” said Lawson Macartney, Ph.D., Chief Executive Officer of Ambrx. “Hisun represents a strong strategic partner with the right regulatory and manufacturing expertise. We believe that this collaboration is additional validation of our technology platform and its potential for many clinical applications.” Hua Bai, Chief Executive Officer and Chairman of Hisun commented, “We are excited to partner with Ambrx, a prominent biotechnology company with a robust technology platform for the development of bispecifics. This partnership will help Hisun to expand our pipeline and advance our position in the biopharmaceutical industry across the globe.” About Ambrx Ambrx Inc. is a clinical stage biopharmaceutical company focused on discovering and developing first-in-class and best-in-class optimized protein therapeutics known as bio-conjugates. The company is developing ARX201, a long-acting growth hormone that has successfully completed Phase 2b clinical trials. Ambrx has entered into ADC collaborations with Merck, Astellas, Bristol-Myers Squibb and Zhejiang Medicine as well as collaborations to discover and develop...