Venture Funding

Annexon Closes $100 Million Financing

SOUTH SAN FRANCISCO — Biopharmaceutical company Annexon, Inc., has closed a $100 million financing led by new investor Redmile Group. Additional new investors included funds and accounts managed by BlackRock, Deerfield Management Company, Eventide Asset Management, Farallon Capital Management, Janus Henderson Investors and Logos Capital, who were joined by existing investors Adage Capital Partners, Bain Capital Life Sciences, Blackstone Life Sciences, New Enterprise Associates, Satter Medical Technology Partners and Surveyor Capital.

Annexon is a clinical-stage biopharmaceutical company developing a pipeline of novel therapies for patients with classical complement-mediated disorders of the body, brain and eye. The company’s pipeline is based on its platform technology addressing well-researched classical complement-mediated autoimmune and neurodegenerative disease processes, both of which are triggered by aberrant activation of C1q, the initiating molecule of the classical complement pathway.

“We are very pleased to have such a strong investor group supporting our team, unique platform and deep pipeline of product candidates for patients with autoimmune and neurodegenerative disorders,” commented Douglas Love, Esq., president and chief executive officer of Annexon. “These funds allow us to accelerate both our clinical and preclinical programs with the goal of exploiting the vast potential of our pioneering approach to combating classical complement-mediated diseases.”

This financing is intended to advance multiple product candidates in Annexon’s portfolio, including ANX005 and ANX007.  ANX005, an investigational monoclonal antibody designed to block C1q and activation of the classical complement cascade, is advancing into a Phase 2/3 clinical trial in patients with Guillain-Barré syndrome (GBS), with additional plans to advance into warm Autoimmune Hemolytic Anemia (wAIHA), Huntington’s Disease (HD) and Amyotrophic Lateral Sclerosis (ALS). ANX007, an investigational C1q antigen-binding fragment, or Fab, designed for intravitreal administration in patients with complement-mediated neurodegenerative ophthalmic disorders, is advancing into a Phase 2 clinical trial in geographic atrophy.