Akamis Bio Secures $60M in Series A Prime Round and Strategic Partnership
Deal News | Jan 23, 2025 | Goodwin
Akamis Bio, a clinical-stage oncology company, has raised $60 million through a Series A Prime financing round and a strategic partnership, as it aims to advance its leading clinical candidate, NG-350A, into a Phase 1b proof-of-concept study. The financing round was led by Sedgwick Yard, a global biotech venture capital firm. Additionally, Akamis Bio has entered a licensing agreement with Xuanzhu Biopharma, granting the latter Greater China Regional rights to NG-350A. This agreement includes potential undisclosed upfront payments, milestone payments, and royalties based on sales in the region. The funding will facilitate NG-350A's development as an intravenously delivered tumor gene therapy aimed at treating locally advanced rectal cancer. The therapy utilizes Akamis Bio's proprietary Tumor-Specific Immuno-Gene Therapy (T-SIGn) platform, designed to foster the immune system's ability to attack cancer cells. The deal teams for financing and partnership were led by Graham Defries, Mitchell Bloom, Maria Dragun, Jack Christian, Duy Le, Alan Wang, and Noelle Dubiansky.
Sectors
- Biotechnology
- Pharmaceuticals
- Venture Capital
Geography
- Greater China – Sedgwick Yard and Xuanzhu Biopharma, both connected to the Greater China region, are key participants in the funding and licensing deal.
- United States – Akamis Bio is likely based in the U.S., and the legal advisory is provided by Goodwin, based in the U.S.
Industry
- Biotechnology – Akamis Bio is involved in developing biotechnology products, particularly focused on cancer therapies.
- Pharmaceuticals – Akamis Bio's partnership with Xuanzhu Biopharma and the development of NG-350A highlight activities in the pharmaceutical industry.
- Venture Capital – Sedgwick Yard is a biotech venture capital firm supporting Akamis Bio's funding round.
Financials
- $60,000,000 – Total funds raised by Akamis Bio from Series A Prime financing and strategic partnership.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Akamis Bio | Target | Company | A clinical-stage oncology company utilizing a T-SIGn platform to develop novel cancer therapies. |
| Sedgwick Yard | Lead Investor | Company | A global biotech venture capital firm leading the Series A Prime financing. |
| Xuanzhu Biopharma | Licensing Partner | Company | Granted Greater China Region Rights to Akamis Bio's NG-350A. |
| Goodwin | Legal Advisor | Company | Provided legal advisory services to Akamis Bio for the Series A Prime financing and strategic partnership. |
| Howard Davis | CEO | Person | CEO of Akamis Bio. |
| Graham Defries | Deal Team Leader | Person | Led the deal team for the Series A Prime financing. |
| Mitchell Bloom | Deal Team Member | Person | Part of the deal team for the Series A Prime financing. |
| Maria Dragun | Deal Team Member | Person | Part of the deal team for the Series A Prime financing. |
| Jack Christian | Deal Team Member | Person | Part of the deal team for the Series A Prime financing. |
| Duy Le | Deal Team Member | Person | Part of the deal team for the Series A Prime financing. |
| Alan Wang | Deal Team Leader | Person | Led the deal team for the strategic partnership. |
| Noelle Dubiansky | Deal Team Member | Person | Part of the deal team for the strategic partnership. |