{"id":5283,"date":"2024-07-02T11:37:45","date_gmt":"2024-07-02T04:37:45","guid":{"rendered":"https:\/\/thaipropertynews.com\/feeds\/?p=5283"},"modified":"2024-07-02T11:37:45","modified_gmt":"2024-07-02T04:37:45","slug":"anbogen-therapeutics-announces-completion-of-a-round-financing-to-advance-abt-301-phase-ii-clinical-trial","status":"publish","type":"post","link":"https:\/\/thaipropertynews.com\/feeds\/?p=5283","title":{"rendered":"Anbogen Therapeutics Announces Completion of A+ Round Financing to Advance ABT-301 Phase II Clinical Trial"},"content":{"rendered":"

TAIPEI<\/span>, July 2, 2024<\/span> \/PRNewswire\/ —\u00a0Anbogen Therapeutics, Inc., a clinical-stage company dedicated to developing breakthrough cancer therapies, has announced the successful closing of a USD 7.3M<\/span> oversubscribed A+ round financing, which is a direct continuation of the USD 12.5 Million<\/span> Series A on 1st February, 2024, bringing the total raised to USD 19.8M<\/span>. The funds from the A+ round will be specifically used to advance the Phase II clinical trial of ABT-301. The financing round was led by KGI Venture Capital and both new and existing investors.<\/p>\n

The capital raised in the A+ round will primarily be used to support the Phase II clinical trial of ABT-301 in combination with PD-1 inhibitors for treating microsatellite stable (MSS) metastatic colorectal cancer, which accounts for 95% of the metastatic colorectal cancer population that does not benefit from immune checkpoint inhibitors. Previous preclinical studies have repeatedly showed that ABT-301, when combined with immune checkpoint inhibitors, exhibits remarkable synergistic therapeutic effects in various solid tumor models, including subcutaneous xenograft and orthotopic models of colorectal cancer, liver cancer, triple-negative breast cancer, and head and neck cancer.<\/p>\n

Given these promising results, Anbogen decided to proceed with the A+ round of financing to secure the necessary funds for ABT-301’s clinical trial, without impacting the ongoing Phase II development of ABT-101.<\/p>\n

Leveraging ABT-301’s compelling immunomodulatory and synergistic effect\u00a0combined\u00a0with PD-1 treatment that Anbogen has\u00a0observed, we have successfully engaged pharmaceutical companies who will agree to enter PD-1\u00a0drug-supply agreement with Anbogen. This collaboration will enable Anbogen to optimize its resource allocation and underscores the strong recognition of both ABT-301 and Anbogen.<\/p>\n

“We are deeply grateful to our investors for their continued support and confidence in our mission,” says Dr. Tsu-An Hsu<\/span>, CEO of Anbogen Therapeutics. “This funding is crucial for the advancement of ABT-301 combo with immune checkpoint inhibitors treating solid tumors, and it validates our ongoing efforts to bring effective cancer treatments to patients in need.”<\/p>\n

About Anbogen:<\/p>\n

Anbogen is a clinical-stage biotechnology company dedicated to developing precision anti-cancer drugs and is committed to R&D innovations to improve the lives of cancer patients around the world. The company was founded by Dr. Joe Shih<\/span>, in response to the national science and technology policy. The team has years of experience in new drug development while working at the National Health Research Institutes or biopharma companies.<\/p>\n

Two of its drugs, ABT-101 for non-small cell lung cancer (NSCLC) with HER2 exon20 insertion mutations and ABT-301(combine with immune checkpoint inhibitors) for metastatic colorectal cancer, are currently in human clinical trials. For more information, please visit Anbogen’s official website (www.anbogen.com<\/a>).<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

TAIPEI<\/span>, July 2, 2024<\/span> \/PRNewswire\/ —\u00a0Anbogen Therapeutics, Inc., a clinical-stage company dedicated to developing breakthrough cancer therapies, has announced the successful closing of a USD 7.3M<\/span> oversubscribed A+ round financing, which is a direct continuation of the USD 12.5 Million<\/span> Series A on 1st February, 2024, bringing the total raised to USD 19.8M<\/span>. The funds from the A+ round will be specifically used to advance the Phase II clinical trial of ABT-301. The financing round was led by KGI Venture Capital and both new and existing investors.<\/p>\n

The capital raised in the A+ round will primarily be used to support the Phase II clinical trial of ABT-301 in combination with PD-1 inhibitors for treating microsatellite stable (MSS) metastatic colorectal cancer, which accounts for 95% of the metastatic colorectal cancer population that does not benefit from immune checkpoint inhibitors. Previous preclinical studies have repeatedly showed that ABT-301, when combined with immune checkpoint inhibitors, exhibits remarkable synergistic therapeutic effects in various solid tumor models, including subcutaneous xenograft and orthotopic models of colorectal cancer, liver cancer, triple-negative breast cancer, and head and neck cancer.<\/p>\n

Given these promising results, Anbogen decided to proceed with the A+ round of financing to secure the necessary funds for ABT-301’s clinical trial, without impacting the ongoing Phase II development of ABT-101.<\/p>\n

Leveraging ABT-301’s compelling immunomodulatory and synergistic effect\u00a0combined\u00a0with PD-1 treatment that Anbogen has\u00a0observed, we have successfully engaged pharmaceutical companies who will agree to enter PD-1\u00a0drug-supply agreement with Anbogen. This collaboration will enable Anbogen to optimize its resource allocation and underscores the strong recognition of both ABT-301 and Anbogen.<\/p>\n

“We are deeply grateful to our investors for their continued support and confidence in our mission,” says Dr. Tsu-An Hsu<\/span>, CEO of Anbogen Therapeutics. “This funding is crucial for the advancement of ABT-301 combo with immune checkpoint inhibitors treating solid tumors, and it validates our ongoing efforts to bring effective cancer treatments to patients in need.”<\/p>\n

About Anbogen:<\/p>\n

Anbogen is a clinical-stage biotechnology company dedicated to developing precision anti-cancer drugs and is committed to R&D innovations to improve the lives of cancer patients around the world. The company was founded by Dr. Joe Shih<\/span>, in response to the national science and technology policy. The team has years of experience in new drug development while working at the National Health Research Institutes or biopharma companies.<\/p>\n

Two of its drugs, ABT-101 for non-small cell lung cancer (NSCLC) with HER2 exon20 insertion mutations and ABT-301(combine with immune checkpoint inhibitors) for metastatic colorectal cancer, are currently in human clinical trials. For more information, please visit Anbogen’s official website (www.anbogen.com<\/a>).<\/p>\n

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