Formation Biologics Announces Dosing of First Patient in a Phase I/IIa Trial of AVID100, Closing of Series B Financing, and Appointment of Dr. Anthony Tolcher to its Board of Directors

Formation Biologics, a clinical stage biopharmaceutical company, today announces the start of a multi-center, Phase I/IIa trial evaluating AVID100 in patients with epidermal growth factor receptor (EGFR)-expressing malignancies. The trial commenced at South Texas Accelerated Research Therapeutics in San Antonio, Texas.

Formation Biologics also announces closing of a Series B financing with HBM Healthcare Investments participating as the lead Series B investor. HBM Healthcare Investments is a global healthcare-focused investment company with net assets of approximately USD$1.5 billion. In addition, the investment serves as a match for the previously announced CPRIT cancer drug development grant.

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