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Avacta's JV AffyXell receives $7.3 million in series A financing
StockMarketWire.com
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Biotherapeutics and reagents company Avacta said AffyXell Therapeutics, its joint venture with Daewoong Pharmaceutical, had closed a series A venture capital investment of $7.3 million to further develop its pipeline of next generation cell and gene therapies.
AffyXell was established in January 2020 by Avacta and Daewoong as a joint Venture to develop novel mesenchymal stem cell therapies.
'The capital raised will be used by AffyXell to further the development of MSCs engineered to produce affimer molecules generated by Avacta that suppress immune response and restore immune balance,' the company said.
'While initially focusing on inflammatory and autoimmune diseases and prevention of organ transplant rejection, longer term goals could also include applications in regenerative medicine, infectious diseases and oncology,' it added.
At 9:33am: (LON:AVCT) Avacta Group PLC share price was 0p at 111.5p
Story provided by StockMarketWire.com
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