Amphivena Therapeutics Secures $62 Million Series C Financing to Advance Immunotherapy for Hematologic Malignancies

On September 29, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Amphivena Therapeutics (“Amphivena”) announced the completion of a $62 million Series C financing round. The round was led by NanoDimension and Qiming Venture Partners, with participation from Clough Capital, Aju IB Investment, Korys, Cathay Capital, Industrial Investors, Newton Investment Management, MPM Capital, and Tekla Capital Management.

Amphivena Therapeutics plans to utilize the proceeds from this round of financing to develop novel immunotherapies for the treatment of hematologic malignancies.

It is reported that Amphivena has completed five rounds of financing, raising a total of $135 million. Among these, the company closed a $38.7 million funding round in December 2018 and a $14 million Series A round in May 2015.

Amphivena Therapeutics, Inc., founded in 2012 and headquartered in California, USA, is a clinical-stage biotechnology company. As a subsidiary of Affimed Therapeutics, the company is dedicated to developing novel immunotherapies for the treatment of complex hematologic malignancies and other solid tumors.

Amphivena’s lead candidate drug is AMV564, a bivalent bispecific T-cell engager targeting CD33 and CD3 molecules with potent activity. This agent selectively eliminates leukemic cells and myeloid-derived suppressor cells (MDSCs) while sparing normal myeloid cells such as neutrophils and monocytes. MDSCs are a heterogeneous population of bone marrow–derived cells that serve as precursors to dendritic cells, macrophages, and granulocytes, and they significantly suppress immune cell responses.

Currently, AMV564 has undergone two Phase I clinical trials at institutions including the University of Washington, MD Anderson Cancer Center, and Fred Hutchinson Cancer Research Center to evaluate its safety, efficacy, and selectivity in acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS). The trials have demonstrated that AMV564 has a favorable safety profile and can be used as a monotherapy or in combination with other anticancer agents to improve clinical outcomes for patients.

Dr. Peter Van Vlasselaer, Executive Chairman of Amphivena, stated, “The Series C financing represents strong investor confidence in Amphivena. This funding will advance our research efforts to explore the therapeutic efficacy of selectively eliminating myeloid-derived suppressor cells (MDSCs) in acute myeloid leukemia (AML) and myelodysplastic syndromes (MDS).”

NanoDimension, founded in 2002 and headquartered in Texas, USA, is a venture capital and private equity firm. The company primarily focuses on life sciences, physical sciences, and innovative technology sectors.

Qiming Venture Partners USA is the U.S. subsidiary of Qiming Venture Partners, headquartered in Cambridge, Massachusetts, and operates as a venture capital firm.

Clough Capital, headquartered in Massachusetts, USA, is an investment management firm.

Aju IB Investment, established in 1974 and headquartered in Seoul, South Korea, is a venture capital and financial services firm that primarily provides funding support to small and medium-sized enterprises.

Korys, founded in 2011 and headquartered in Belgium, is a venture capital and private equity firm.

K2 Capital was established in 2009 and is headquartered in Hangzhou, China. It is a venture capital firm primarily engaged in innovation investment, industrial investment, and wealth management. Its investment portfolio spans biopharmaceuticals, healthcare, agricultural technology, consumer businesses, and digital technologies.

Industrial Investors, headquartered in London, UK, is an international private equity investment firm.

Newton Investment Management, established in 1978 and headquartered in London, UK, is a venture capital firm under BNY Mellon.

MPM Capital, founded in 1996 and headquartered in Massachusetts, USA, is a venture capital and private equity firm primarily focused on investments in the healthcare sector.

Tekla Capital Management, headquartered in Massachusetts, USA, is a venture capital firm. The company primarily focuses on the healthcare and life sciences industries.

(Compiled by Xu Xiaoxue)