BioCentury
ARTICLE | Financial News

ApoGen debuts with $7M

December 13, 2016 12:57 AM UTC

Accelerator Corp. (Seattle, Wash.) said it participated in a $7 million series A financing for oncology newco ApoGen Biotechnologies Inc. (Seattle, Wash.). Also investing were the AbbVie Ventures arm of AbbVie Inc. (NYSE:ABBV), Alexandria Venture Investments, Arch Venture Partners, Eli Lilly and Co. (NYSE:LLY), the Johnson & Johnson Innovation-JJDC venture arm of Johnson & Johnson (NYSE:JNJ), Watson Fund, WRF Capital and the WuXi PharmaTech Inc. unit of New Wuxi Life Science Ltd. (Shanghai, China).

ApoGen is developing small molecule candidates designed to target and prevent drug resistance in cancer cells. The company has licensed IP from the University of Minnesota covering a portfolio of technologies related to its lead target, apolipoprotein B mRNA editing enzyme catalytic subunit 3B (APOBEC3B)...