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Recombinant antibody technology firm AxioMx gets USD 2m in funding.

M2 PHARMA-October 9, 2013-Recombinant antibody technology firm AxioMx gets USD 2m in funding(C)2013 M2 COMMUNICATIONS

9 October 2013 - US recombinant antibody technology specialist AxioMx Inc said yesterday it had secured USD 2 million (EUR 1.5m) in funding.

The company is developing high-throughput method to synthetically generate affinity reagents, which are fragments of monoclonal antibodies that specifically bind to target proteins and are utilised in life science research, diagnostic tests and as therapeutics. AxioMx is seeking to cut antibody reagent development time from the current four to six months with traditional technology to less than four weeks. The firm's antibodies are generated entirely in vitro which allows for consistent antibody quality across production batches and does not involve the use of animals, AxioMx said further.

The round, the company's second, included participation from Connecticut Innovations (CI), Elm Street Ventures, Vital Venture Capital and the firm's founders. AxioMx noted that it had received orders for more than USD 750,000 for custom services including antigen design, antibody discovery and development, and affinity maturation of existing antibodies during the last nine months.

(USD 1.0 = EUR 0.736)

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Publication:M2 Pharma
Date:Oct 9, 2013
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