WSR Capital, China Development Industrial Bank, Themes Investment Partners, and Sycamore Ventures also participated in the funding round.
The company will use the funding to develop APX005, an immunotherapeutic for the treatment of cancers, as well as additional pipeline programmes.
Apexigen CEO Xiaodong Yang said, “We are very pleased and gratified by the response and support from our investors. The level of interest and enthusiasm in Apexigen, as seen in the oversubscription rate, provides a significant vote of confidence in our progress to-date and in our prospects going forward.
“This financing provides us the financial strength to complete the transition from start-up mode toward a focus on the development of innovative new therapeutics.”
One of Apexigen’s backers, Sycamore, increased its stake in Indian iron and steel product provider Surana Industries to 21.72 per cent last year.
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