Anbogen Therapeutics, a clinical-stage biotechnology company specializing in groundbreaking cancer drug development announced the successful completion of its Series A funding round. The lead investor is China Development Industrial Bank, with significant contributions from Taian Venture Capital, Maxpro and the National Development Fund (Business Angel Investment Program, and Implementation Project for Strengthening Investment in SMEs), with a total investment of approximately 12.5 million.
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The raised capital will be directed towards the ongoing development of Anbogen’s two main drug candidates, ABT-101 and ABT-301. It is worth mentioning that both of these candidate drugs were supported by the National Research Program for Biopharmaceuticals (NRPB) before Anbogen took over. With the continued endeavor from Anbogen, these candidate drugs are steadily advancing in clinical trials for evaluation of their efficacy.
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Dr. Tsu-An Hsu, CEO of Anbogen, stated, “”Signs of safety and clinical benefits have been observed in non-small cell lung cancer patients, including sustained tumor suppression in patients who previously developed resistance to Enhertu treatment.”” ABT-101 has completed the DLT evaluation of 3 dosage groups (100 mg, 150 mg, and 200 mg), and is now advancing to the 250 mg cohort in the phase 1b trial to continue evaluation of safety, tolerability, pharmacokinetics and efficacy. Phase 2 is scheduled to commence upon the completion of phase 1 trial in 2024.
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The Series A funding not only reflects the value of Anbogen Therapeutics’s innovative pipeline, but also underscores the company’s commitment to advancing cancer treatment to fulfill the unmet medical needs.
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Joe Hsueh, Anbogen Therapeutics’s General Manager, stated, “”With bioventure investors support, we aim to expedite ABT-101 development and broaden its use across various solid tumor types (including colorectal, biliary tract, breast, urothelial, and other gastrointestinal cancers) through our basket trial. Furthermore, the integration of Next-Generation Sequencing (NGS) will facilitate our efforts in developing precision medicine for cancers with unmet clinical need, making a substantial contribution to the advancement of the field.”
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Furthermore, leveraging years of experience in developing small molecule cancer drugs, Anbogen Therapeutics’s R&D team independently developed the ABT-200 series of small molecule inhibitors targeting pan-KRAS gene mutations. The ABT-200 series is an exciting development in the field of cancer treatment, showing promising advancements in its early stages. This series holds tremendous potential for addressing cancers that currently lack approved KRAS-targeted drugs, including pancreatic cancer and colorectal cancer.
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About Anbogen Therapeutics
Anbogen Therapeutics is a clinical-stage biotechnology company dedicated to developing precision anti-cancer drugs that hold the/promise of curing cancers and/or improving the lives of cancer patients worldwide. Anbogen, whose founding was proposed by Dr. Joe Shih, aligns with national policies and addresses significant medical needs. We prioritize innovative research and development for diverse cancer types.
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