Navigation Links
Axikin Pharmaceuticals Spins out of Actimis

SAN DIEGO, Jan. 22 /PRNewswire/ -- Axikin Pharmaceuticals, Inc., a startup company dedicated to developing and commercializing small molecule therapeutics for respiratory and inflammatory diseases, today announced a $3 million private placement of its Series A stock. The financing was led by Sanderling Ventures of San Mateo, California. Additional investors include Mitsui & Co. Venture Partners of New York.

Axikin Pharmaceuticals, Inc., was formed as a spin-out from Actimis Pharmaceuticals, Inc., ( following the acquisition of Actimis' lead program by Boehringer Ingelheim in a structured buyout in June 2008. Axikin's pipeline includes an advanced pre-clinical program with multiple highly optimized small-molecule lead candidates, as well as two additional novel target research programs. These programs are expected to have broad applications across respiratory and allergic diseases including asthma, allergic rhinitis and chronic obstructive pulmonary disease (COPD) with, potentially, broader applications in inflammation, autoimmunity, oncology and cardiovascular disease.

"The establishment of Axikin Pharmaceuticals, Inc., and the additional funding we have received to progress these assets, allows us to hit the ground running and provide significant continuity in the quest to bring our lead candidates to the clinic," said Kevin B. Bacon, Ph.D., founder, President and Chief Scientific Officer of Axikin, and original founder of Actimis. "Building on our excellent relationship with our prior investor partners, and retaining the same team of highly-dedicated scientists greatly facilitates our goal of filing an investigational new drug application (IND) for our lead program in the very near future."

"The investors are delighted to be backing the same proven team again in this new spin-out Company," said Peter C. M. McWilliams, Ph.D., Chairman and Acting CEO, and a Principal with Sanderling Ventures. "We feel there are some very interesting and novel technologies in the Axikin portfolio and over the next several months we will continue to rationalize and prioritize these with a view to selecting our first clinical program this year."

About Axikin Pharmaceuticals, Inc.

Axikin Pharmaceuticals, Inc. is a privately held biopharmaceutical company focused exclusively on the development and commercialization of small molecule therapeutics for severe respiratory, inflammatory and autoimmune diseases such as asthma, chronic obstructive pulmonary disease (COPD), inflammatory dermatoses, inflammatory bowel disease and rheumatoid arthritis. Axikin was spun out from Actimis Pharmaceuticals, in June 2008. Investors include Sanderling Ventures and Mitsui & Co. Venture Partners.

About Sanderling Ventures

Founded in 1979, Sanderling is among the oldest investment firms dedicated to biomedical investing. Sanderling's unique approach combines a specialized investment focus with active management and long-term commitment. Since its inception, Sanderling has supported over 40 biomedical companies from very early stages through commercial development.

About Mitsui & Co. Venture Partners

Mitsui & Co. Venture Partners (MCVP) is a New York based venture capital firm that invests primarily in life science and technology companies in North America. MCVP has created three funds totaling approximately $300 million in capital. Having offices in New York, Tokyo and Palo Alto, the firm actively seeks technology and business seeds in Japan and offers North American start-up companies value-added opportunities in Japan and Asia.

SOURCE Axikin Pharmaceuticals, Inc.
Copyright©2009 PR Newswire.
All rights reserved

Related biology technology :

1. Vion Pharmaceuticals Pays Interest on 7.75% Convertible Senior Notes
2. China Biopharmaceuticals Holdings Announces Second Quarter 2007 Financial Results
3. Vion Pharmaceuticals Completes Accrual of 85 Patients to its Pivotal Phase II Trial of Cloretazine(R) (VNP40101M) in Elderly AML
4. XTL Biopharmaceuticals Announces Financial Results for the Six Months Ended June 30, 2007
5. Cadence Pharmaceuticals Reports Second Quarter 2007 Financial Results
6. Nabi Biopharmaceuticals to Present at Upcoming Industry Conferences
7. Anadys Pharmaceuticals Appoints Steve Worland, Ph.D. as President and Chief Executive Officer
8. Poniard Pharmaceuticals Announces Participation in Upcoming Conferences
9. NovaQuest Advances Virtual Development Model With Strategic Investment in TOPIGEN Pharmaceuticals
10. Drug Royalty Corporation (DRC) Announces Acquisition Regarding PEG-INTRON(R) From Enzon Pharmaceuticals, Inc. (ENZN)
11. Sunesis Pharmaceuticals Announces Reorganization to Focus Resources and Build Value in Clinical-Stage Programs
Post Your Comments:
(Date:11/24/2015)... ... November 24, 2015 , ... The United States Golf Association ... 2016 USGA Green Section Award. Presented annually since 1961, the USGA Green Section Award ... work with turfgrass. , Clarke, of Iselin, N.J., is an extension specialist ...
(Date:11/24/2015)... , ... November 24, 2015 , ... ... of the year and one of the premier annual events for pharmaceutical manufacturing: ... from 8–11 November 2015, where ISPE hosted the largest number of attendees in ...
(Date:11/24/2015)... ... November 24, 2015 , ... The Academy of Model ... Group (SIG), MultiGP, also known as Multirotor Grand Prix, to represent the First–Person View ... years. Many AMA members have embraced this type of racing and several new model ...
(Date:11/24/2015)... , Nov. 24, 2015  Twist Bioscience, a ... Emily Leproust, Ph.D., Twist Bioscience chief executive officer, ... Conference on December 1, 2015 at 3:10 p.m. ... York City. --> ... . Twist Bioscience is on Twitter. Sign up ...
Breaking Biology Technology:
(Date:11/18/2015)... PHILADELPHIA , Nov. 18, 2015  As new ... in children, doctors and other healthcare providers face challenges ... counsel families and patients. In addition, as more children ... into a patient,s adulthood and old age. ... The Children,s Hospital of Philadelphia (CHOP) . ...
(Date:11/17/2015)... 17, 2015 Pressure BioSciences, Inc. (OTCQB: PBIO) ... and sale of broadly enabling, pressure cycling technology ("PCT")-based ... today announced it has received gross proceeds of $745,000 ... Placement (the "Offering"), increasing the total amount raised to ... additional closings are expected in the near future. ...
(Date:11/11/2015)... 2015   MedNet Solutions , an innovative SaaS-based eClinical ... is pleased to announce that it will be a Sponsor ... event, to be held November 17-19 in Hamburg ... demonstrations of iMedNet , MedNet,s easy-to-use, proven ... has been able to deliver time and cost savings ...
Breaking Biology News(10 mins):