arGEN-X raises $37m in Series B financing
Thursday, December 1, 2011
arGEN-X has closed a $37 million Series B fundraising round, which was oversubscribed. The fundraising was co-led by OrbiMed Advisors (USA) and Seventure Partners (France), with the existing shareholders Forbion Capital Partners, Credit Agricole Private Equity, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB also participating. OrbiMed’s founding partner, Dr Mike Sheffery, will join the arGEN-X Supervisory Board.
arGEN-X is developing an innovative pipeline of human antibody products from its proprietary SIMPLE Antibody platform. The company has five therapeutic programs under development for the treatment of autoimmune disorders, inflammation and oncology, with two now in formal preclinical development. arGEN-X’ most advanced program, ARGX-110, addresses a clinically validated cell surface receptor implicated in autoimmunity and cancer and has been shown in preclinical models to modulate target function with unrivalled potency. arGEN-X expects to file an IND application for ARGX-110 in early 2013.