Annexon Biosciences has grabbed a healthy $100 million round to take its clinical work closer to the finishing line as it tees up shots on multiple targets.
That $100 million comes from a who’s who of VC firms led by new investor Redmile Group, with other new investors including funds and accounts managed by BlackRock, Deerfield Management Company, Eventide Asset Management, Farallon Capital Management, Janus Henderson Investors and Logos Capital.
That’s not all: These guys were joined by existing investors Adage Capital Partners, Bain Capital Life Sciences, Blackstone Life Sciences, New Enterprise Associates, Satter Medical Technology Partners and Surveyor Capital (a Citadel company).
The cash boost will be put toward pushing a series of the biotech’s candidates forward, including ANX005 and ANX007. The former is an investigational monoclonal antibody designed to block C1q and activation of the classical complement cascade, and is moving into phase 2/3 study in patients with Guillain-Barré syndrome.
There’s also plans to test warm antibody hemolytic anemia, Huntington’s disease and amyotrophic lateral sclerosis.
Then there’s ANX007, a C1q antigen-binding fragment, or Fab, designed for intravitreal administration in patients with complement-mediated neurodegenerative ophthalmic disorders, which is moving into a midstage test clinical trial in geographic atrophy.
“We are very pleased to have such a strong investor group supporting our team, unique platform and deep pipeline of product candidates for patients with autoimmune and neurodegenerative disorders,” commented Douglas Love, president and CEO of Annexon.
“These funds allow us to accelerate both our clinical and preclinical programs with the goal of exploiting the vast potential of our pioneering approach to combating classical complement-mediated diseases.”
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