Based out of Newcastle, Iksuda Therapeutics is a biotechnology company that specialises in the development of next-generation biotherapeutics.
Recently, the UK company raised $47 million (approx £34 million) in a funding round co-led by Korean-based Mirae Asset Capital and Celltrion.
How will the funding be used?
The investment will enable the progression of IKS03 to a first-in-human phase 1 clinical trial. It’s worth mentioning that IKS03 is a best-in-class CD19-targeted ADC candidate for B-cell cancers.
The funding will also be used to accelerate the company’s earlier-stage programmes including IKS04 and IKS012 to IND filing.
New-gen antibody-drug conjugates
Basically, Iksuda is focused on the development of a new generation antibody-drug conjugates (ADCs) targeting difficult-to-treat haematological and solid tumours.
The British biotech’s pipeline of ADCs is centred on a portfolio of non-prodrug/prodrug DNA and protein alkylating payloads in combination with stable conjugation chemistries including its proprietary PermaLink platform.
The company’s ADCs portfolio is designed to significantly improve the therapeutic index of this important modality and improve the outcomes for patients living with cancer.
Dr. Dave Simpson, Chief Executive Officer, Iksuda Therapeutics, said: “This is a transformational investment milestone for Iksuda, enabling us to focus on the progression of our industry-leading ADC programmes and bring them to the clinic, whilst supporting our commercial growth. The funding not only reflects the potential of our technologies but also the unmatched expertise of the Iksuda team. We are grateful for the support of this group of investors and delighted to welcome them to the team.”
Ji Kwang Chung, Investor, Mirae Asset Capital, commented: “We have been highly impressed with Iksuda’s approach and progress to date and with the Company’s leadership. We are delighted to lead this investment round, and to contribute to enabling the team to progress its very promising pipeline of ADC candidates.”
Woosung, Kee, CEO, Celltrion Inc., added: “By pursuing tumours that are resistant to current treatment approaches, Iksuda is extending the boundaries of ADC technology, and consequently the treatment options for patients. This ideally complements Celltrion’s drive to pioneer uncharted areas of innovative therapies, incorporating unique and successful next-generational approaches that promote health and welfare globally. We have been very impressed with Iksuda’s progress to date and look forward to working together to support their mission.”
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