SOUTH SAN FRANCISCO, Calif.– IgGenix, Inc., a biotechnology company taking a revolutionary approach to directly address allergic disease, today announced that it has raised $25 million in an oversubscribed Series A1 financing. Khosla Ventures, which participated in IgGenix’s Series A funding in 2020, co-led the round along with Matthias Westman, a leading biotech investor and founding partner of Prosperity Capital Management. New investors include Alexandria Venture Investments, ShangBay Capital and AllerFund, the first and only venture capital firm focused on social impact in the food allergy space.
With proceeds from the financing, IgGenix will further expand its discovery platform in food and nonfood allergies while accelerating its lead program into preclinical development.
“At IgGenix, our revolutionary approach has the potential to transform the treatment of allergic disease and empower people to live without constant fear of life-threatening allergic reactions,” said Chief Executive Officer Jessica Grossman, M.D. “With this funding, we look forward to continuing an exciting period of discovery while building partnerships to fuel our next phase of development.”
IgGenix was co-founded by Stephen Quake, D.Phil.; Kari Nadeau, M.D., Ph.D.; and Derek Croote, Ph.D. of Stanford University, based on the idea that the potent immunological adaptations underlying severe allergies can form the basis of groundbreaking new therapeutics. Using cutting-edge single-cell genomics to isolate rare IgE-producing B cells, IgGenix discovers and reengineers key antibodies involved in the allergic cascade to develop safer therapeutics with a faster onset of action and more sustained clinical responses.
