Annexon Raises $100 Million to Advance Pipeline of Classical Complement Therapeutics
July 1, 2020
Rare Daily Staff
Annexon raised $100 million to advance a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain, and eye.
New investor Redmile Group led the financing with participation from new investors Deerfield Management, funds and accounts managed by BlackRock, Eventide Asset Management, Farallon Capital Management, Janus Henderson Investors and Logos Capital. Existing investors Adage Capital Partners, Bain Capital Life Sciences, Blackstone Life Sciences, New Enterprise Associates, Satter Medical Technology Partners, and Surveyor Capital also participated.
“These funds allow us to accelerate both our clinical and preclinical programs with the goal of exploiting the vast potential of our pioneering approach to combating classical complement-mediated diseases,” said Douglas Love, president and CEO of Annexon.
Annexon will use the new funding to continue development of multiple product candidates in its portfolio, including ANX005 and ANX007.
ANX005, an experimental monoclonal antibody designed to block C1q and activation of the classical complement cascade, is advancing into a phase 2/3 clinical trial in patients with Guillain-Barré syndrome (GBS), a rare condition typically triggered by a preceding infection that impacts the peripheral nervous system. Annexon also plans to test ANX005 to treat warm autoimmune hemolytic anemia, Huntington’s disease, and amyotrophic lateral sclerosis.
ANX007, an experimental C1q antigen-binding fragment, or Fab, is designed for intravitreal administration in patients with complement-mediated neurodegenerative ophthalmic disorders. Annexon plans to initiate a phase 2 clinical trial of ANX007 patients with geographic atrophy.
Photo: Douglas Love, president and CEO of Annexon
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