Pyxis Oncology has made a definitive agreement to buy biopharmaceutical company Apexigen, in a deal valued at nearly $16m.

Pyxis Oncology will issue 0.1725 shares of its common stock, with par value of $0.001 per share, for each Apexigen share.

Apexigen discovers and develops a new generation of antibody therapeutics to treat cancer, along with new immuno-oncology products to harness the immune system to combat and eradicate cancer.

Sotigalimab, its differentiated, potentially best-in-class anti-CD40 antibody, is currently in clinical development to treat cancers including melanoma and liposarcoma.

The therapy has been evaluated in clinical trials involving more than 500 patients and showed a favourable tolerability profile and quick, deep and durable responses across several difficult-to-treat tumour types.

Pyxis Oncology president and CEO Lara Sullivan stated: “This acquisition uniquely positions Pyxis Oncology at the forefront of antibody-drug conjugate (ADC) innovation by adding humanised antibody generation to our flexible antibody conjugation technology (FACT) antibody-drug conjugate (ADC) toolkit acquired from Pfizer, and expands our clinical pipeline into Phase 2 in select solid tumour types by leveraging our founding heritage of immuno-oncology expertise — all while maintaining our cash runway into 2025.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

“We are excited about the potential to acquire the commercially and clinically validated APXiMAB platform to generate novel antibodies that can be optimised for targeted payload delivery.

“In combination with our proprietary FACT platform, we believe Pyxis Oncology is positioned with an unmatched, end-to-end system for designing and producing novel, next-generation ADC candidates with improved potency, stability and tolerability.”

The transaction is expected to conclude by the middle of 2023.