Navigation Links
arGEN-X raises EUR 5 Million from PMV in Extension of EUR 32.5 Million Series B
Date:11/4/2013

BREDA, The Netherlands and GHENT, Belgium, November 4, 2013 /PRNewswire/ --

Funds to advance ARGX-113, a novel antibody fragment approach to promote degradation and clearance of disease-causing autoantibodies, towards clinical development

arGEN-X, a clinical stage human therapeutic antibody company, has raised EUR 5 million ($6.8 million) as an extension of its series B financing round from the Flemish investment company PMV as a new investor. arGEN-X' series B round, which had its first close in December 2011, now totals EUR 32.5 million ($44 million).

The proceeds will be used to accelerate the Company's ARGX-113 preclinical program towards clinical development. ARGX-113 is a novel therapeutic approach to virtually any antibody-mediated pathology. ARGX-113 exploits arGEN-X' proprietary ABDEG™ technology which clears and degrades systemic disease-causing autoantibodies. ARGX-113 is applicable to most autoimmune diseases (e.g. rheumatoid arthritis, systemic lupus erythmatosus), including unmet orphan indications (e.g. myasthenia gravis, immune thrombocytopenic purpura, Kawasaki disease). ARGX-113 has also a potential use in other therapies where anti-drug antibodies eventually reduce or neutralize the effect of therapeutic proteins.

PMV is an independent investment company that invests in companies contributing to sustainable economic development in the region of Flanders. PMV has a EUR 900m portfolio of assets under management. Life sciences represent a particular focus area for PMV's corporate investments. At arGEN-X, PMV joins a blue-chip group of international investors including OrbiMed Advisors, Seventure Partners, Forbion Capital Partners, Omnes Capital, LSP, BioGeneration Ventures, the Erasmus Biomedical Fund, Thuja Capital and VIB.

Tim Van Hauwermeiren, CEO of arGEN-X, commented: "The ARGX-113 program has made rapid and exciting progress since we started preclinical studies in April 2013. The results of these studies are encouraging and are giving us important insights to the potential of this unique approach for treating autoimmune diseases and enhancing the efficacy and duration of protein therapies."

"Having initiated clinical trials this year with ARGX-110, an anti-CD70 SIMPLE Antibody™, and with ARGX-111, an anti-cMet SIMPLE Antibody™, which are being tested in a range of cancers, we welcome this investment by PMV, which will enable us to accelerate the development of ARGX-113 towards the clinic. As a prominent local investor, PMV joins IWT and VIB as an important Flemish biotech stakeholder in our company."

Dr. Chris De Jonghe, Group Manager Venture Capital at PMV added: "We are impressed by the quality of the science and therapeutic programs at arGEN-X. The phenomenal productivity and capital efficiency of arGEN-X positions them as a leader in their field. With this investment, PMV further emphasizes its strategy to invest in outstanding companies in the Flemish biotech ecosystem. We are proud to become part of the arGEN-X story."            

About ABDEG and ARGX-113

ABDEG technology exploits the known binding interaction of antibody Fc regions with the neonatal Fc receptor (FcRn), which is expressed in endothelial, hematopoietic and epithelial cells, and is central to the process of antibody clearance from the circulation. Based on specific mutations contained within the Fc domain, ABDEGs have several clear therapeutic applications with exciting development potential. The first, exemplified by ARGX-113, uses mutation-bearing Fc fragments as products for the treatment of autoimmune disorders. The second introduces the ABDEG mutations into therapeutic antibody product Fc regions, creating a dual therapeutic effect mediated by the binding of both variable and constant regions. The third promotes the active clearance of anti-therapy antibodies provoked in patients undergoing prolonged treatment with biologics, such as enzyme replacement or antibody-based therapies.

Ref. Patel D.A. 2011. Neonatal Fc Receptor blockade by Fc engineering ameliorates arthritis in a murine model. J. Immunol. 187:1015-1022

About arGEN-X

arGEN-X is a clinical stage human therapeutic antibody company that is rapidly developing a product pipeline using its unique suite of antibody technologies. arGEN-X is creating first and best in class antibody therapeutics with highly differentiated target product profiles. Its therapeutic antibody programs, focused on cancer and autoimmune indications, are designed to deliver tangible benefits to patients with these diseases.

http://www.arGEN-X.com

About PMV

PMV nv is an independent investment company. It invests in promising entrepreneurs from the very start through the growth and the internationalisation of their business, and also invests in large infrastructure projects. It focuses on the sustainable economic development of Flanders, with demonstrable added value for both economy and society. Particular emphasis is placed on the life sciences & care, ICT, cleantech & industrials sectors and infrastructure for the future. PMV manages a portfolio of EUR 900 million in assets.

http://www.pmv.eu



'/>"/>
SOURCE arGEN-X
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. arGEN-X Appoints Dr. David L. Lacey to its Supervisory Board
2. arGEN-X Announces Preclinical Development of ARGX-112 for Dermatology
3. arGEN-X Identifies Potent Antibody Antagonists against Complex Chronic Pain Target Nav1.7
4. arGEN-X Initiates Phase IbStudy of ARGX-111 in Cancer
5. Evergreen Healthcare Foundation Gala Raises Nearly $1.1 Million to Benefit Breast Health Center
6. Xtelligent Media Raises $800K in Funding and Launches EHRintelligence.com
7. National Patient Advocate Foundation Praises Signing of the Delaware Cancer Treatment Access Act into Law
8. BHI Raises Awareness of Hearing Aids as Potential Therapy to Help Quiet "Ringing in the Ears" During National Tinnitus Awareness Week
9. Perrigo Reports Record Third Quarter Revenue And Earnings And Raises Full Year EPS Guidance
10. Auxilium Pharmaceuticals, Inc. Raises Revenue Guidance And Reduces Net Loss Guidance For 2012
11. Halo Therapeutics Raises $1.1 Million to Expedite Phase 2 Study of HT-100
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/24/2016)... , June 24, 2016  Consumers have taken ... regulators/payers have placed more emphasis on patient outcomes. ... support programs in the pharmaceutical industry have evolved ... Consequently, pharmaceutical companies are focusing on becoming more ... providing products and services that improve health. ...
(Date:6/24/2016)... FRANCISCO, Calif. , June 24, 2016 /PRNewswire/ ... ), a biopharmaceutical company developing novel therapeutics for ... unmet needs, today announced the closing of its ... of common stock, at the public offering price ... in the offering were offered by GBT. GBT ...
(Date:6/24/2016)... , June 24, 2016 ... has announced the addition of the " Global ... This report ... provides an updated review, including its applications in various ... total market, which includes three main industries: pharmaceutical and ...
Breaking Medicine Technology:
(Date:6/25/2016)... ... 2016 , ... Austin residents seeking Mohs surgery services, can now turn to ... Dr. Russell Peckham for medical and surgical dermatology. , Dr. Dorsey brings specialization to ... fellowship in Mohs Micrographic Surgery completed by Dr. Dorsey was under the direction of ...
(Date:6/25/2016)... ... June 25, 2016 , ... ... recover from injury. Recently, he has implemented orthobiologic procedures as a method for ... is one of the first doctors to perform the treatment. Orthobiologics are substances ...
(Date:6/24/2016)... ... ... June 19, 2016 is World Sickle Cell Observance Day. In an effort to ... treatments, Serenity Recovery Center of Marne, Michigan, has issued a pain management ... (SCD) is a disorder of the red blood cells, which can cause episodes of ...
(Date:6/24/2016)... ... June 24, 2016 , ... Comfort Keepers® of San ... Society and the Road To Recovery® program to drive cancer patients to and from ... adults to ensure the highest quality of life and ongoing independence. Getting to ...
(Date:6/24/2016)... Nevada (PRWEB) , ... June 24, 2016 , ... ... Vegas client, The Grove Investment Group (TGIG), has initiated cultivation and processing operations ... in Las Vegas and Pahrump, Nevada. , Puradigm is the manufacturer of a ...
Breaking Medicine News(10 mins):