Immunotherapy spinout Annexon Biosciences collected funding from Novartis Venture Fund in a series C round that brought its total funding to $154m.
Annexon Biosciences, a US-based immunotherapy developer spun out from Stanford University, closed a $75m series C round on Wednesday backed by Novartis Venture Fund, the corporate venturing vehicle for pharmaceutical firm Novartis.
Bain Capital Life Sciences, a subsidiary of private equity firm Bain Capital, led the round, which included Surveyor Capital, Adage Capital Partners, New Enterprise Associates (NEA), Satter Investment Management and Blackstone Life Sciences, a subsidiary of investment firm Blackstone.
Founded in 2011, Annexon is an immunotherapy developer targeting autoimmune, neurodegenerative and ophthalmic conditions that may result from a disruption in an immune mechanism known as the classical complement pathway.
The capital will support clinical development of Annexon’s two lead candidates: ANX007 IVT for ophthalmic conditions and ANX005 for autoimmune and neurodegenerative diseases, including proof-of-concept studies due to report back in 2019.
Proceeds from the round will also fund work on additional therapies for autoimmune and neurodegenerative…
