With new owners, Ambrx aims to challenge Genentech

31 October 2016

The young Chinese venture-capital backed biotech company Ambrx has received some good news recently. In August, it secured a $45 million round of financing led by Apricot Capital and Northeast Securities Prosperity Healthcare Fund.

The same month, it received approval for its Investigational New Drug (IND) from the Food and Drug Administration to start clinical trials in the USA for its novel HER2 targeting antibody drug conjugate(ADC) ARX788, which is currently in Phase I trials in Australia and New Zealand.

“We have received very encouraging data from the studies in the two countries. In the USA, if clinical studies go well we plan to apply for an accelerated approval to get it launched by 2021,” Feng Tian, Ambrx chief scientific officer, told The Pharma Letter.

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