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  • Avenge Bio

    Avenge Bio Announces Closing of $45 Million Series A Financing


    '...Avenge Bio, Inc., a biotechnology company developing the LOCOcyte™ immunotherapy platform for the precision administration of potent immune effector molecules to treat solid tumors, today announced the closing of its Series A financing of $45 Million. The round of financing was co-led by Perceptive Xontogeny Venture Fund and CAM Capital, with participation from seed investor Longitude Capital and new investors Rock Springs Capital and Pappas Capital. Proceeds from the Series A financing will be used to advance Avenge Bio's lead program, AVB-001, through the filing of an Investigational New Drug (IND) application and into the clinic for the treatment of metastatic peritoneal cancers, with a primary focus on recurrent and refractory ovarian cancer. The company will also use the proceeds to continue the rapid development of its pipeline programs.


    "We are pleased to announce the closing the Series A financing, which will expedite the advancement of our lead program to the clinic," said Michael Heffernan, Chief Executive Officer and co-founder of Avenge Bio. "Avenge Bio was founded with a mission to focus on the large unmet need of treating cancers like ovarian cancer, which has limited treatment options and often comes with a poor prognosis. This funding will also allow us to continue expanding our pipeline, which, in addition to treating peritoneal cancers, includes treatments for lung and breast cancers." '


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    Rice University deploys grant funding to 9 innovative Houston research projects


    '...Over a dozen Houston researchers wrapped up 2021 with the news of fresh funding thanks to an initiative and investment fund from Rice University.


    The Technology Development Fund is a part of the university’s Creative Ventures initiative, which has awarded more than $4 million in grants since its inception in 2016. Rice's Office of Technology Transfer orchestrated the $25,000 grants across nine projects. Submissions were accepted through October and the winners were announced a few weeks ago.

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    Rice University





    Avenge Bio

    Avenge Bio Announces Closing of $45 Million Series A Financing


    '...Avenge Bio, Inc., a biotechnology company developing the LOCOcyte™ immunotherapy platform for the precision administration of potent immune effector molecules to treat solid tumors, today announced the closing of its Series A financing of $45 Million. The round of financing was co-led by Perceptive Xontogeny Venture Fund and CAM Capital, with participation from seed investor Longitude Capital and new investors Rock Springs Capital and Pappas Capital. Proceeds from the Series A financing will be used to advance Avenge Bio's lead program, AVB-001, through the filing of an Investigational New Drug (IND) application and into the clinic for the treatment of metastatic peritoneal cancers, with a primary focus on recurrent and refractory ovarian cancer. The company will also use the proceeds to continue the rapid development of its pipeline programs.


    "We are pleased to announce the closing the Series A financing, which will expedite the advancement of our lead program to the clinic," said Michael Heffernan, Chief Executive Officer and co-founder of Avenge Bio. "Avenge Bio was founded with a mission to focus on the large unmet need of treating cancers like ovarian cancer, which has limited treatment options and often comes with a poor prognosis. This funding will also allow us to continue expanding our pipeline, which, in addition to treating peritoneal cancers, includes treatments for lung and breast cancers." '


    Click here to view the full article


    Rice University

    Rice University deploys grant funding to 9 innovative Houston research projects


    '...Avenge Bio, Inc., a biotechnology company developing the LOCOcyte™ immunotherapy platform for the precision administration of potent immune effector molecules to treat solid tumors, today announced the closing of its Series A financing of $45 Million. The round of financing was co-led by Perceptive Xontogeny Venture Fund and CAM Capital, with participation from seed investor Longitude Capital and new investors Rock Springs Capital and Pappas Capital. Proceeds from the Series A financing will be used to advance Avenge Bio's lead program, AVB-001, through the filing of an Investigational New Drug (IND) application and into the clinic for the treatment of metastatic peritoneal cancers, with a primary focus on recurrent and refractory ovarian cancer. The company will also use the proceeds to continue the rapid development of its pipeline programs.


    "We are pleased to announce the closing the Series A financing, which will expedite the advancement of our lead program to the clinic," said Michael Heffernan, Chief Executive Officer and co-founder of Avenge Bio. "Avenge Bio was founded with a mission to focus on the large unmet need of treating cancers like ovarian cancer, which has limited treatment options and often comes with a poor prognosis. This funding will also allow us to continue expanding our pipeline, which, in addition to treating peritoneal cancers, includes treatments for lung and breast cancers." '


    Click here to view the full article