Taiwan-based startup Anbogen Therapeutics, a clinical-stage biotechnology company specialising in groundbreaking cancer drug development, has announced the successful completion of its Series A funding round.

The lead investor is China Development Industrial Bank (CDIB), with significant contributions from Taian Venture Capital, Maxpro and the National Development Fund (Business Angel Investment Programme, and Implementation Project for Strengthening Investment in SMEs), with a total investment of approximately $12.5 million.

The raised capital will be directed towards the ongoing development of Anbogen's two main drug candidates, ABT-101 and ABT-301. Both of these candidate drugs were supported by the National Research Programme for Biopharmaceuticals (NRPB) before Anbogen took over. ABT-101, a HER2-targeting tyrosine kinase inhibitor (TKI), has exhibited substantial potency and safety during its pre-clinical and phase 1b clinical trial. During the pre-clinical study, ABT-101 demonstrated superior selectivity against HER2 exon20 insertion mutation.

Additionally, Anbogen is actively progressing ABT-301, a novel small molecule drug that potentiates efficacy of immune checkpoint inhibitors (ICIs). Having completed its phase 1 trial, ABT-301 exhibited superior safety and pharmacokinetic profiles compared to other marketed drugs with similar mechanism of action. 

Furthermore, leveraging years of experience in developing small molecule cancer drugs, Anbogen's R&D team independently developed the ABT-200 series of small molecule inhibitors targeting pan-KRAS gene mutations. The ABT-200 series is an exciting development in the field of cancer treatment, showing promising advancements in its early stages. This series holds tremendous potential for addressing cancers that currently lack approved KRAS-targeted drugs, including pancreatic cancer and colorectal cancer.