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news.Axikin Pharmaceuticals, a developer of small molecule therapeutics for respiratory and inflammatory diseases, has announced a $3 million private placement of its series A stock.
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The financing was led by Sanderling Ventures of San Mateo, California. Additional investors include Mitsui & Co Venture Partners of New York.
Axikin’s pipeline includes an advanced preclinical program with multiple highly optimized small-molecule lead candidates, as well as two additional novel target research programs. These programs are expected to have broad applications across respiratory and allergic diseases including asthma, allergic rhinitis and chronic obstructive pulmonary disease with, potentially, broader applications in inflammation, autoimmunity, oncology and cardiovascular disease.
Kevin Bacon, founder, president and chief scientific officer of Axikin, said: “The establishment of Axikin Pharmaceuticals and the additional funding we have received to progress these assets, allows us to hit the ground running and provide significant continuity in the quest to bring our lead candidates to the clinic.”