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Akamis Bio Announces $30 Million Financing, Provides Clinical Program Update And Relaunches With Name Change From Psioxus Therapeutics

Jan 05, 2023•over 2 years ago

Amount Raised

$30 Million

OxfordshireBiotechnologyHealth CareGeneticsTherapeutics

Investors

Westlake Village Bio PartnersArch Venture Partners

Description

Akamis Bio (formerly PsiOxus Therapeutics), a clinical-stage oncology company leveraging its Tumor-Specific Immuno-Gene Therapy (T-SIGn®) platform to positively impact the lives of people living with cancer, today announced a $30 million convertible note financing co-led by a group of leading US life science investors. In addition, the company provided a progress update on its clinical pipeline programs, NG-350A and NG-641, while announcing a relaunch of the company as Akamis Bio building upon its ongoing corporate transformation. In conjunction with the corporate name change, the company has launched a new website at www.akamisbio.com.

Company Information

Company

Akamis Bio

Location

Abingdon Science Park Barton Lane

Oxfordshire, England, United Kingdom

About

Akamis Bio is a clinical-stage oncology company whose mission is to leverage its groundbreaking Tumor-Specific Immuno-Gene Therapy (T-SIGn®) platform to positively impact the lives of people living with cancer. To achieve that mission, the company is developing a portfolio of solid tumor-targeted T-SIGn® therapeutics which aim to enable a patient’s own immune system to recognize, attack, and clear their cancer. Akamis Bio has a growing pipeline of T-SIGn® therapeutics anchored by its two clinical-stage programs, NG-350A (an immuno-stimulatory tumor gene therapy driving intratumoral expression of a CD40 agonist monoclonal antibody) and NG-641 (a stromal-targeted tumor gene therapy leveraging a viral vector encoding a FAP-CD3 bispecific antibody, CXCL-9, CXCL-10 & interferon alpha). NG-350A and NG-641 are both being investigated in ongoing Phase 1 clinical studies in patients with metastatic or advanced epithelial tumors. In addition to internal pipeline development efforts, Akamis Bio has a number of T-SIGn® platform-focused collaborations with leaders in the immuno-oncology field including BMS, Merck, and the Parker Institute for Cancer Immunotherapy (PICI).

Funding Insights

Based on industry data
VC-backed spending patterns
VC-backed companies spend 89% more on sales and 100% more on marketing than bootstrapped peers
Tech investment trends
83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

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