Alopexx & Provenance Ink Deal for Anticancer Immunotherapeutic
Alopexx has agreed to an $8 million financing deal with Provenance to facilitate development of the latters anticancer candidate.
U.S. healthcare company Alopexx Enterprises has agreed to an $8 million financing deal with biotech Provenance Biopharmaceuticals’ to facilitate development of the latter’s early clinical-stage lead anticancer candidate DI-Leu16-IL2.
The firms are in addition establishing a new company, Alopexx Oncology, to manage development of the drug.
DI-Leu16-IL2 is a de-immunized form of an anti-CD20 antibody, Leu16, genetically fused to interleukin 2 (IL2). The immunotherapeutic is being studied for the treatment of non-Hodgkin lymphoma and other forms of hematological cancer and is currently in an investigator-sponsored Phase I trial.
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