With New Owners, Ambrx, Inc. Aims To Challenge Genentech

The young Chinese venture-capital backed biotech company Ambrx has received some good news recently. In August, it secured a $45 million round of financing led by Apricot Capital and Northeast Securities Prosperity Healthcare Fund.

The same month, it received approval for its Investigational New Drug (IND) from the Food and Drug Administration to start clinical trials in the USA for its novel HER2 targeting antibody drug conjugate(ADC) ARX788, which is currently in Phase I trials in Australia and New Zealand.

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