US-based cancer therapy developer ApoGen Biotechnologies has secured $7m in a series A round featuring pharmaceutical companies AbbVie, Eli Lilly, WuXi PharmaTech and Johnson & Johnson.
Alexandria Venture Investments, part of real estate developer Alexandria Real Estate Equities, also took part in the round, as did investment firm Accelerator Corporation, Arch Venture Partners, Watson Fund and Washington Research Foundation subsidiary WRF Capital.
ApoGen is developing drug therapies that will disrupt the development of drug resistance by cancer cells by targeting mechanisms that cause genomic mutation. It is initially targeting an antiviral element of the innate immune system that is a prominent source of cancer mutation.
The company’s technology has been licensed from University of Minnesota and two of its co-founders are researchers at the institution.
AbbVie and Johnson & Johnson participated in the round through respective subsidiaries AbbVie Ventures and Johnson & Johnson Innovation – JJDC.