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Shifting Focus to Drug Development, Sialix Raises $2M, Changes Name to Siamab Therapeutics

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NEW YORK (GenomeWeb) – Sialix said this week that it has raised an additional $2 million as part of its Series B round, bringing the total raised to $6 million.

The company also said that it has changed its name to Siamab Therapeutics, marking its shift from a glycomics-focused firm to one focused on developing therapeutic antibodies for cancer.

Siamab's glycomics technologies enable the firm to discover and assay antibodies to tumor associated carbohydrate antigens, a class of cancer-specific cell surface molecules suitable for targeting with antibody drugs. Using the platform the company has discovered and characterized a panel of anti-TACA antibodies that compose its first therapeutics development program.

"As we move forward with our focus on developing antibodies for the treatment of cancer, while staying true to our roots in glycobiology, we have chosen the name Siamab Therapeutics," CEO Jeff Behrens said in a statement. "Our technology platform has identified a panel of highly specific antibodies shown to significantly inhibit the growth of tumors in in vivo studies. Siamab’s lead program is currently in preclinical studies for the treatment of solid tumors."

The investors in the additional round of funding included Boston Harbor Angels, Mass Medic Angels, Launchpad Angels, Maine Angels, Beacon Angels and Desert Angels, as well as other undisclosed individuals.

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