Californian biotech, Amunix Pharmaceuticals, has raised $73 million in a oversubscribed Series A financing led by Boston-based Omega Funds.
Existing investors Frazier Healthcare Partners also participated along with new investors Longitude Capital, Redmile Group, Polaris Partners, Casdin Capital, Two River, Venrock, and Delian Capital.
The company will use the proceeds along with the $40 million upfront payment from a licensing agreement with Roche announced earlier this year to advance its lead development candidate, AMX-818 – an XPAT T cell engager targeting HER2+ solid tumours – into the clinic, to progress earlier discovery stage XPAT programs and to initiate XPAC discovery work.
As part of the financing, Otello Stampacchia, Managing Director and founder of Omega Funds; David Hirsch, Managing Director and founder of Longitude Capital; and James Brush, Partner at Frazier Healthcare Partners, will join Amunix’s Board of Directors.
The company also plans to relocate to South San Francisco later this year to better take advantage of the talent pool.
“The completion of our Series A financing marks a critical milestone for Amunix, as the investment affords us a significant financial runway to advance our novel pipeline of T cell engagers and cytokines targeting a spectrum of solid tumours,” said Angie You, CEO of Amunix.