Amphivena Therapeutics Inc. announced the successful completion of their US$14 million equity financing. MPM Capital led the Series A financing, with the participation of Affimed AG and Aeris Capital. Amphivena announced that they will use the proceeds for the pre-clinical development of novel therapy for a hematological disorder based on Affimed's proprietary TandAb antibody technology. Amphivena is a subsidiary of the therapeutic TandAb company Affirmed Therapeutics AG.
On a separate note, Amphivena has entered into an agreement with Janssen Biotech, Inc. The agreement grants Janssen the exclusive rights to acquire Amphivena following IND approval upon per-negotiated terms and conditions set in the agreement. Janssen will provide Amphivena with an initial payment plus additional contingent payments based on reaching predetermined milestones in return for its rights under the agreement.
"Affimed's TandAb platform shows significant promise in addressing this critical patient need," said Dr. Luke Evnin of MPM Capital. "We are excited to partner with antibody cancer experts of such caliber."
"Amphivena in collaboration with Affimed AG will develop novel bi-specific TandAb antibodies to improve the existing therapy for a specific hematological malignancy," said Adi Hoess, CEO of Affimed AG. "We are excited that MPM and Aeris Capital have partnered with us to support the development of a novel agent and are pleased to enter into this relationship with Janssen."
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