Avaxia Biologics Completes $11.4M Series B Financing

▤ Summary

Avaxia Biologics, a Lexington, MA-based biopharmaceutical company, completed a $11.4m Series B financing.In connection with the financing, AbbVie will take a seat on Avaxia’s board of directors.The company intends to use the funds to advance the clinical development of its lead program, AVX-470, for the treatment of inflammatory bowel disease (IBD).Led by Barbara S. Fox, CEO, Avaxia Biologics leverages its proprietary oral antibody platform to develop gut-targeted therapeutics, which are orally administered, minimally absorbed drugs that are designed to act locally in the gastrointestinal tract.Its lead clinical candidate, AVX-470, is an oral anti-TNF antibody for inflammatory bowel disease (IBD).

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