Belgium's ActoGenix has returned to the venture capital well for $17 million in fresh funds. The fledgling developer is a spin-off of VIB and Ghent University. And it says it expects to see a significant amount of new data on its two lead programs this year.
Its lead drug, AG011, is in a mid-stage trial for ulcerative colitis. And it plans to file an IND soon in the U.S. for its second program, AG013, a new drug being studied as a therapy for oral mucositis in cancer patients.
"We are delighted with this financing," says CEO Dr. Mark Vaeck, "accomplished in a challenging market environment."
New investor Biovest joined the round with Gimv, Biotech Fund Flanders, Baekeland Fund, VIB, Aescep Venture and Ventech. ActoGeniX raised $26 million in its Series A in January, 2007.
- read the ActoGenix's release
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