Apexigen Receives Clinical Development Milestone Payment under Collaboration Agreement
(San Carlos, California – March 16, 2017) — Apexigen, Inc., — a clinical-stage biopharmaceutical company focusing on discovering and developing antibody-based therapeutics for the treatment of cancer with an emphasis on new Immuno-Oncology (I-O) agents, today announced the receipt of a milestone payment under a license agreement for its proprietary APXiMAB™ technology. The milestone payment was associated with the achievement of a clinical development milestone.
“Our proprietary technology platform enables the discovery of high-quality antibodies, even against very challenging targets. We are excited to see our collaborators drive the clinical development of six of our antibodies, supporting our common goal of delivering novel therapies to patients,” said Xiaodong Yang, M.D., Ph.D., President and Chief Executive Officer of Apexigen.
Apexigen is leveraging rabbit antibodies as a diverse and rich source for the discovery, generation and humanization of proprietary therapeutic monoclonal antibodies to address high-value disease targets. There are currently seven product candidates derived from APXiMAB™ in clinical trials around the world, six of which are in development under license or collaboration agreements by Apexigen’s partners.
About the APXiMAB™ Discovery Platform
APXiMAB™, Apexigen’s proprietary antibody discovery platform, consists of the Company’s rabbit monoclonal antibody and Mutation Lineage Guided humanization technologies. Antibodies discovered using APXiMAB™ have demonstrated high affinity, high specificity and high stability. Apexigen is applying the diversity inherent to its discovery platform to produce best-in-class leads with the promise of superior attributes and improved safety profiles, and new classes of humanized antibodies against challenging and previously intractable targets.
About Apexigen, Inc.
Apexigen is a clinical-stage biopharmaceutical company discovering and developing a new generation of antibody therapeutics for oncology, with an emphasis on new immuno-oncology agents that could harness the patient’s immune system to combat and eradicate cancer. APX005M and the Company’s additional preclinical programs were discovered using APXiMAB™, Apexigen’s proprietary product discovery platform. This platform has enabled the Company and its collaboration partners to discover and develop high-quality therapeutic antibodies against a variety of molecular targets, including targets that are difficult to drug with conventional antibody technologies. Seven product candidates discovered using APXiMAB™ are currently in clinical development, either internally by Apexigen or by its partners. For more information, please visit www.apexigen.com.
Vice President, Business Development