IgGenix, Inc., a pre-clinical biotechnology company using a novel approach to directly address allergic disease, announced today the first close on a $40 million Series B financing to advance its lead program in peanut allergy to the clinic. Alexandria Venture Investments led the round, which also included new investor Eli Lilly and Company, as well as existing investors Khosla Ventures, Sean Parker, AllerFund, and others.
The funds will be used to advance IgGenix’s lead program to Phase 1 human clinical trials and to broaden the company’s discovery platform to include IgE-mediated diseases other than allergy.
Stephen Quake, D.Phil., Kari Nadeau, M.D., Ph.D., and Derek Croote, Ph.D. of Stanford University co-founded IgGenix on the premise that the potent immunological adaptations underlying severe allergies can provide the foundation for the development of innovative, first-in-class antibody therapeutics. IgGenix takes a novel approach to addressing severe allergic reactions by re-engineering IgE monoclonal antibodies (mAbs) to block and even prevent allergic reactions using cutting-edge single-cell genomics via SEQ SIFTERTM.