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.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

US Health Secretary Alex Azar Takes Aim at Rebates in US Senate Hearing

Beyeonics Surgical Raises $11.5 Million in Initial Funding Round

MeiraGTx Raises $75 Million in Initial Public Offering

GenSight to Pursue Approval for LHON Gene Therapy Candidate, Despite Phase III Setback

Optovue Receives FDA Clearance for AngioAnalytics, First OCT Angiography Metrics

Nexy Robotic Retinal Imaging System Receives FDA Clearance

Ocutrx Receives US Patent for Oculenz AR Glasses for Macular Degeneration

Allergan’s Bimatoprost SR Demonstrates Noninferiority to Timolol in Phase III Glaucoma Study

KKR to acquire Envision Healthcare, Including Amsurg ASC Business

Ophthalmologist Carmen Puliafito, MD, Seeks to Regain Medical License

Avedro Gains J Code for Photrexa Formulations in Preliminary CMS Decision

EyeGate Seeks to Study Ocular Bandage Gel in Punctate Epitheliopathy

Nicox, Ironwood to Collaborate on Novel Ophthalmic Treatments

US FDA Approves MDGH’s Moxidectin for Treatment of River Blindness

Bausch + Lomb Enrolls First Patient in Trial for enVista MX60EF Trifocal IOL

Cincinnati Eye Institute Partners with Private Equity Firm to Pursue National Expansion

Ophthotech Enters Gene Therapy Deals with University of Florida, University of Pennsylvania

Teva’s Launches Generic Version of Restasis in Canada

Clearside’s Phase II Trial for DME Candidate Meets Primary Endpoint

Orasis Raises $13 Million in Series B Financing

Coming soon

2018 Glaucoma Device Report: A Global Market Analysis for 2017 to 2023