Elixiron Immunotherapeutics, a US-based developer of immunotherapies for cancer in addition to neurodegenerative and immunological disorders, has received $27m in a series A1 round featuring electronics manufacturer Hong Tai Electric Industrial.
Investment firm Pangu Capital and venture capital firm Taiwania Capital co-led the round, which included DCI Partners, a subsidiary of investment bank Daiwa Securities Group, as well as financial services firms Mega International Commercial Bank and Fubon Financial Holdings, and private equity firm CDIB Capital Group.
Elixiron was founded in 2017 and is working on immunotherapies for cancer, neurological diseases and inflammatory disorders. Its lead asset, EI-1071, is a small-molecule drug candidate with the potential to treat patients with Alzheimer’s disease and other neurodegenerative conditions.
The capital injection will allow the company to advance two of its pipeline candidates into phase 1 clinical trials and support Investigational New Drug applications for three immuno-oncology assets.
Hung-Kai Chen, founder, CEO and chairman of Elixiron, said: “We use translational medicine to dig deep into the key mechanisms of treatment, from which we propose new strategies to modulate the immune system.
“This is combined with our innovative technology including the T-action platform that can greatly increase the activity of T cells in tumours, and with our new target discovery efforts using our B cell cloning and other antibody library platforms.”