SOUTH SAN FRANCISCO, Calif.–(BUSINESS WIRE)–IgGenix, Inc., a pre-clinical biotechnology firm taking a revolutionary method to instantly tackle allergic illness, in the present day introduced its first shut on a $40M Sequence B financing to advance its lead program in peanut allergy to the clinic. The funding spherical was led by Alexandria Enterprise Investments and consists of new investor Eli Lilly and Firm, in addition to current buyers Khosla Ventures, Sean Parker, AllerFund and others.
As well as, Joel S. Marcus, govt chairman and founding father of Alexandria Actual Property Equities, Inc. and Alexandria Enterprise Investments, has joined the IgGenix Board of Administrators. “Meals allergy symptoms affect roughly 32 million folks in america and over 200 million folks globally, various in depth from individual to individual and underscoring an enormous unmet medical want for brand new, modern remedies,” stated Mr. Marcus. “Alexandria Enterprise Investments is continually in search of promising therapeutic platforms with potential to change into novel medicines that positively affect the lives of individuals around the globe. IgGenix is on the forefront of allergy immunology, and I’m honored to hitch the corporate’s board to assist advance its compelling pipeline of antibody growth packages addressing immune targets.”
The proceeds shall be used to advance IgGenix’s lead program to Section 1 human medical trials and develop the corporate’s discovery platform to embody extra IgE-mediated illness past allergy.
“At IgGenix, we’re taking a revolutionary method to establish and re-engineer allergen-specific antibodies designed to stop extreme allergic reactions,” stated Jessica Grossman, M.D., CEO of IgGenix. “I’m grateful for the robust help of our present and new buyers who share the IgGenix imaginative and prescient of adjusting the face of allergic illness, and I’m delighted to welcome Joel Marcus of Alexandria to our Board of Administrators. Joel’s intensive insights into firm constructing and his many years of expertise working with preeminent life science corporations in any respect phases of growth will add great worth to IgGenix.”
IgGenix was co-founded by Stephen Quake, D.Phil., Kari Nadeau, M.D., Ph.D., and Derek Croote, Ph.D. of Stanford College, on the idea that the potent immunological variations underlying extreme allergy symptoms can create the foundational growth of modern, first-in-class antibody therapeutics. Utilizing cutting-edge single-cell genomics to isolate uncommon IgE-producing B cells by means of SEQ SIFTER™, IgGenix takes a novel method to addressing extreme allergic reactions by re-engineering IgE monoclonal antibodies (mAbs) to dam and even stop allergic reactions.
IgGenix is a privately held antibody discovery and growth firm taking a revolutionary method to instantly tackle extreme allergy symptoms. By way of our proprietary SEQ SIFTER™ discovery platform, developed from the foundational analysis of co-founders Stephen Quake, Kari Nadeau and Derek Croote of Stanford College, IgGenix isolates and re-engineers absolutely human, high-affinity, allergen-specific IgG antibodies designed to dam and forestall the allergic cascade. By concentrating on widespread immunodominant allergens and their most immunodominant epitopes throughout the affected person inhabitants, we intend to deal with allergic pediatric and grownup sufferers alike throughout extreme meals and environmental allergy symptoms. This novel method could stop life-threatening allergic reactions, saving lives and decreasing the fixed worry that impacts hundreds of thousands of individuals dwelling with extreme allergy symptoms. For extra data, go to www.IgGenix.com.