Amphivena Therapeutics raises $62m to advance AMV564 into solid tumors

Amphivena Therapeutics funding round : Amphivena Therapeutics has raised $62 million in a Series C financing round to expand the clinical development of its lead candidate AMV564 into solid tumors and also to develop its T cell engagement portfolio.

Based in California, Amphivena Therapeutics is a clinical-stage immuno-oncology company focused on developing T cell engager therapeutics for cancer.

The Series C funding round was jointly led by NanoDimension and Qiming Venture Partners USA. The latest Amphivena Therapeutics funding round included new investors such as Clough Capital, Kaitai Capital, Industrial Investors, Aju IB, Korys Merieux, and Nawton and existing investors like MPM Capital, Franklin Berger, and funds managed by Tekla Capital Management.

Following the latest Amphivena Therapeutics funding round, the immuno-oncology company raised $88.5m to date from Series A, B, and C venture financings.

AMV564 is a T cell engager designed to preferentially kill myeloid-derived suppressor cells (MDSC) in cancer patients while leaving normal neutrophils and monocytes. The bivalent, bispecific (2:2) T cell engager can bind both CD33 and CD3.

According to Jeanmarie Guenot – CEO and President of Amphivena Therapeutics, the way AMV564 functions to go along with its safety profile positions it as a potential monotherapy or in combination with other agents, for the treatment of hematologic malignancies and solid tumors.

Commenting on the Amphivena Therapeutics funding round, Peter Van Vlasselaer – Executive Chairman of Amphivena Therapeutics, said: “The Series C financing is an endorsement by new and existing investors of our leadership in the evolving T cell engagement space.

“This funding enables us to study the therapeutic impact of selective MDSC removal in both hematologic and solid cancers and to advance AMV564 and our novel T cell engagement portfolio to the forefront of immuno-oncology.”

Amphivena Therapeutics claims that more than 50 patients have been administered AMV564 in a couple of phase 1 clinical trials for acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).

Currently, the T cell engager is being studied in a first-in-human phase 1 clinical trial in patients having relapsed/refractory AML.

For more pharma industry news like Amphivena Therapeutics funding round updates, keep following Pharma News Daily.

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