Abpro Postpones $60 Million IPO; Company Has Anti-VEGF/ANG-2 Product Candidate

May 11, 2018: By Jon Swedien

Abpro has postponed an initial public offering scheduled for May 11, according to Renaissance Capital.

Abpro planned to raise $60 million, according to an amended SEC registration statement filed May 4.

The Woburn, Massachusetts, company’s focus is developing novel antibodies for various cancers, but it also has a product candidate aimed at treating retinal diseases—including diabetic macular edema (DME) and wet age-related macular degeneration (AMD).

Abpro’s ophthalmic candidate, ABP-201, is a tetravalent dual-targeting antibody that simultaneously targets vascular endothelial growth factor (VEGF) and angiopoietin-2 (ANG-2), the company said.

Abpro said ABP-201 has the potential to be more effective than anti-VEGF therapies, such as Eylea and Lucentis, because of the dual inhibition.

ABP-201 is not yet in clinical studies, according to the company’s website.

Abpro is not alone in pursuing anti-VEGF/ANG-2 candidates.

Genentech is pursuing an anti-VEGF/ANG-2 bispecific antibody, RG7716, which outperformed ranibizumab (Lucentis) in a Phase II study of patients with DME, parent Roche announced Feb. 12. Genentech is also evaluating RG7716 in two Phase II studies for wet AMD.

Regeneron, meanwhile, attempted to combine ANG-2 antibody nesvacumab with Eylea—but the proposed combination therapy did not warrant a Phase III trial after it failed to “provide sufficient differentiation” compared with Eylea alone, the company reported Nov. 27.

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