IgGenix Completes $10 million Series A Financing Round to Advance Antibody Therapeutics Platform for Allergies

Aug 7, 2020 | Investor Watch, News

IgGenix Completes $10 million Series A Financing Round to Advance Antibody Therapeutics Platform for Allergies

IgGenix closed on a $10 million Series A financing round, led by Khosla Ventures with participation from Parker Ventures. The funding will be used to advance the company’s novel antibody therapeutics platform for the treatment of food and non-food allergies and other severe allergic conditions.

IgGenix’s mission is to directly address food and other severe allergies by re-engineering key antibodies involved in the allergic cascade. IgGenix isolates and transforms allergen-specific IgE antibodies into IgG antibodies that are designed to alleviate and possibly prevent the allergic cascade. Through this novel approach to treating allergic disease, these treatments may be able to effectively block and even prevent life-threatening allergic reactions, while at the same time elucidating the role of the allergens themselves. 

“The prevalence of severe food allergy for both children and adults continues to increase worldwide, with recent studies indicating that more than 200 million people are impacted,” said Mr. Hironaka, CEO of IgGenix. “To date, while the awareness of severe food allergies is increasing, there remains a critical need for therapeutics that effectively block and even prevent life-threatening allergic reactions. We believe that through our novel antibody selection and engineering approach, we have the potential to improve the lives of millions of allergy sufferers.”

IgGenix also announced the appointment of Richard Boismenu, Ph.D., as chief scientific officer and named Derek Croote, Ph.D. as Chief Technical Officer. 

“No option exists today to treat the underlying mechanism of food allergy, yet severe food allergy can cause anaphylaxis and even death in many cases,” commented Dr. Boismenu. “I’m excited to join IgGenix at this pivotal time. Our proprietary single-cell genomic platform for drug discovery allows us to search through large numbers of human B cells for those expressing rare antibodies capable of triggering allergic reactions. These antibodies can be engineered as therapeutics to protect against a wide range of allergies.”

Dr. Croote said that in individuals with allergies, specialized B cells produce IgE antibodies that recognize a specific allergen. These IgE antibodies, when bound to mast cells, initiate what can be a life-threatening cascade following even minimal exposure to an allergen. He stated that by intervening in the allergic cascade, the company’s therapeutic platform has the potential to make a difference for patients suffering from severe allergic disease.

Source: IgGenix

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