THOUSAND OAKS, Calif, Oct. 12, 2016 /PRNewswire/ -- Akriveia Therapeutics LLC, an emerging immuno-oncology focused biotechnology company, today announced its recent $7.5 million Series A investment by F-Prime Capital Partners. Thomas Beck and Ben Auspitz of F-Prime Capital Partners will join Akriveia's Board of Directors alongside Akriveia's Chief Executive Officer, Simon Tomlinson, with Dr. Beck becoming Chairman of the Board.
Akriveia Therapeutics is harnessing its proprietary platform to create immunotherapeutic products that are specifically activated in the microenvironment of the tumor. It is anticipated that this will substantially increase the utility of immuno-oncology agents and spare patients the treatment-limiting, debilitating and sometimes lethal side-effects of the current generation of immunotherapeutics.
The company also announced that it has entered into exclusive license agreements for key enabling technologies with City of Hope and Thomas Jefferson University.
"We are thrilled to be joined on our mission to develop the next generation of immunotherapeutics by the world-class team at F-Prime, and to have entered into the agreements with City of Hope and Thomas Jefferson University," said Dr. Tomlinson. "The financing will help us attract talented leaders and innovators to drive our therapeutic discovery efforts, and to build a pipeline of best-in-class single agent and combination immunotherapeutics."
"We are very excited by the opportunity that Akriveia has created to build a future force in the discovery and development of immuno-oncology biotherapeutics," commented Dr. Beck. "The company's platform has the potential to rapidly generate highly differentiated therapeutic candidates for proven as well as novel targets. We are committed to helping Akriveia achieve its goals."
About Akriveia Therapeutics
Akriveia Therapeutics is discovering and developing the next generation of cancer immunotherapies. Akriveia's new agents offer the promise of a safer and more efficacious approach to harness a patient's own immune system to fight cancer. Akriveia was founded on the pioneering work of Professor John Williams at City of Hope and Professor Ulrich Rodeck at Thomas Jefferson University, experts in the fields of bioengineering and cancer therapeutic discovery.
About F-Prime Capital Partners
F-Prime Capital Partners (formerly Fidelity Biosciences) is a global venture capital firm investing in life sciences, healthcare, and technology. F-Prime has worked closely with entrepreneurs and academics to create innovative solutions to some of the world's most significant challenges in healthcare and technology.
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/akriveia-therapeutics-announces-its-recent-series-a-investment-by-f-prime-capital-partners-300343270.html
SOURCE Akriveia Therapeutics