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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