AAX Biotech Secures Funding to Drive Technology Development and Expansion
Swedish biotech company AAX Biotech AB has successfully raised 7 MSEK in a funding round backed by both new and existing investors. The capital will be used to support the company’s ongoing growth and innovation efforts, strengthening its internal capabilities and expanding its project portfolio.
AAX Biotech is dedicated to addressing unmet demands in the advancement of next-generation antibody therapeutics. The company’s two pioneering technologies, Seqitope™ and Opti-mAb™, improve the performance and developability of antibody-based therapeutics and offer a unique solution in a rapidly growing market.
The funding round included a rights issue offered to current shareholders, alongside a directed share issue aimed at new investors such as Life Science Invest (LSI Epsilon). Several existing shareholders, including Karolinska Institutet Holding, Northislet, Hjalmar Didrikson through HJKK Didrikson AB and Phase2Phase Biopharma Ventures, additionally chose to increase their stake in the company.
The capital injection will enable AAX Biotech to automate its Seqitope™ platform, expand its project initiatives, and explore additional applications for its technologies. The capital will also fuel the company’s go-to-market efforts and support the expansion of laboratory facilities and team growth within business development and R&D.
“We are pleased to see strong support from many of our existing investors, with some increasing their commitment substantially, demonstrating strong confidence in our mission and the value of our technologies. We’re also excited to welcome new investors on board,” says Maria Lisa Knudsen, CEO of AAX Biotech. “With these resources, we are positioned to deliver innovative solutions that address some of the most critical medical challenges.”
For more information, please contact:
Maria Lisa Knudsen, CEO
+46 72 939 5018
maria.knudsen@aaxbiotech.com
About AAX Biotech AB
AAX Biotech AB is a biotech company specializing in next-generation antibody therapeutics. The company offers two unique and proprietary technologies, Seqitope™ and Opti-mAb™, that enable high throughput and high-resolution epitope mapping as well as stabilization of single chain variable fragments (scFv) for applications such as bispecific antibodies and CAR-T cells. Both technologies aim to produce better and more effective antibody-based medicines. These innovations position AAX Biotech as a key player in the rapidly growing antibody therapeutics market. AAX Biotech is founded by experts from Karolinska Institutet in Stockholm, Sweden. Visit aaxbiotech.com to learn more and follow AAX Biotech on LinkedIn.
