Actym Therapeutics Bags USD 34 Million in Series A Round of Financing
Pharma Tech Outlook

Actym Therapeutics Bags USD 34 Million in Series A Round of Financing

Pharma Tech Outlook | Wednesday, April 29, 2020

The company is led by industry veterans Christopher Thanos, PhD, Chief Executive Officer, Laura Hix Glickman, PhD, Vice President Research, and Mark Frohlich, M.D., Chief Medical Advisor

Fremont, CA: Immuno-oncology firm Actym Therapeutics secured USD 34 million in a Series A funding round led by Boehringer Ingelheim Venture Fund and Panacea Venture. The round was also participated by Illumina Ventures, Korea Investment Partners (KIP), and JLo Ventures. The proceeds from the financing round will be used by the company to advance the development of immunotherapies from its microbial-based STACT platform into the clinic for the treatment of various cancers.

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[vendor_logo_first]The company is led by industry veterans Christopher Thanos, PhD, Chief Executive Officer, Laura Hix Glickman, PhD, Vice President Research, and Mark Frohlich, M.D., Chief Medical Advisor. "Patients burdened with metastatic disease desperately need new and effective treatment options. Actym's platform technology allows for the delivery of multiplexed immunological payloads to the tumor microenvironment (TME) after IV dosing, in a single therapeutic composition. This financing, from an esteemed group of investors, is a key validation of our approach," said Dr Thanos. "Our goal is to bring therapeutic benefit to cancer patients. We are fortunate to be aligned with investors who can provide both the financial resources and real-world leadership experience to help build Actym, advance our pipeline, and ultimately help patients."

As part of the Series A financing round, the Actym Board of Directors has expanded to include Kanad Das, PhD, Investment Director at BIVF, James Huang, MBA, Founding Managing Partner of Panacea Venture, and Alexis Ji, PhD, Partner at Illumina Ventures. "On behalf of BIVF, we are excited to co-lead the investment in Actym. Actym's unique approach has the potential to overcome the immunosuppressive TME and treat a broad range of malignancies via a systemic route of administration," said Dr Das, of BIVF.

The California-based company was founded in 2017 by Christopher Thanos PhD, Laura Hix Glickman, PhD, and Amit Kumar, PhD "Actym has developed a highly differentiated therapeutic platform. We are excited about its potential and are impressed by the scientific depth of the team. We are thrilled to co-lead the investor syndicate, and our team looks forward to helping Actym develop potent immunotherapies." said Mr Huang.

See also: Top Oncology Solution Companies

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