Anbogen Therapeutics, Inc. has received USD 7.3 million oversubscribed A+ round financing, which is a direct continuation of the USD 12.5 Million Series A on February 1, 2024, bringing the total raised to USD 19.8 million.

The funds from the A+ round will be specifically used to advance the Phase II clinical trial of ABT-301. The financing round was led by KGI Venture Capital and both new and existing investors.

The capital raised in the A+ round will primarily be used to support the Phase II clinical trial of ABT-301 in combination with PD-1 inhibitors for treating microsatellite stable (MSS) metastatic colorectal cancer, which accounts for 95 percent of the metastatic colorectal cancer population that does not benefit from immune checkpoint inhibitors.

Previous preclinical studies have repeatedly showed that ABT-301, when combined with immune checkpoint inhibitors, exhibits remarkable synergistic therapeutic effects in various solid tumor models, including subcutaneous xenograft and orthotopic models of colorectal cancer, liver cancer, triple-negative breast cancer, and head and neck cancer.

Given these promising results, Anbogen decided to proceed with the A+ round of financing to secure the necessary funds for ABT-301's clinical trial, without impacting the ongoing Phase II development of ABT-101.

Leveraging ABT-301's compelling immunomodulatory and synergistic effect combined with PD-1 treatment that Anbogen has observed, we have successfully engaged pharmaceutical companies who will agree to enter PD-1 drug-supply agreement with Anbogen. This collaboration will enable Anbogen to optimize its resource allocation and underscores the strong recognition of both ABT-301 and Anbogen.

"We are deeply grateful to our investors for their continued support and confidence in our mission," said Dr. Tsu-An Hsu, CEO of Anbogen Therapeutics.

"This funding is crucial for the advancement of ABT-301 combo with immune checkpoint inhibitors treating solid tumors, and it validates our ongoing efforts to bring effective cancer treatments to patients in need," added Dr. Tsu-An Hsu.