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Series B brings in $6.4mm for Avaxia; adds $5mm

Executive Summary

Avaxia Biologics Inc. (developing therapeutics for gastrointestinal and metabolic diseases) has raised $6.4mm via its Series B financing led by returning backer Cherrystone Angels and new investor Golden Seeds. Other existing shareholders Beacon Angels, Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels, and North Country Angels were joined by first-time backers the Beta Fund, Granite State Angels, the Keiretsu Forum, and Maine Angels, plus individual investors. Avaxia will use the proceeds for a Phase Ib trial of its oral anti-TNF antibody AVX470 for ulcerative colitis. Patient enrollment in the study will begin in early 2013.
Deal Industry
  • Biotechnology
    • Large Molecule
      • Antibodies
  • Pharmaceuticals
    • Drug Delivery
      • Macromolecule
Deal Status
  • Final
Deal Type
  • Financing
    • Private Placement

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