Pharmaceuticals will receive $3 million through a series A private placement of its stock. The company was formed as a spinout from Actimis Pharmaceuticals following the acquisition of Actimis' lead program by Boehringer Ingelheim in a structured buyout in June 2008.
Axikin's pipeline includes an advanced preclinical program with multiple small molecule lead candidates and two additional novel target research programs. These programs are expected to have broad applications across respiratory and allergic diseases including asthma, allergic rhinitis, and COPD.
The financing was led by Sanderling Ventures, and additional investors included Mitsui & Co. Venture Partners.