AxioMx, Inc. Announces Completion of Initial Financing

Posted on Dec 6, 2012

BRANFORD, CT – December 6, 2012

AxioMx, Inc. announced today that it has completed its initial financing round with over $2 million in investment from Connecticut Innovations, Elm Street Ventures, and company founders.

AxioMx provides a comprehensive custom recombinant antibody discovery and development service platform. Its service offerings include epitope mapping, antigen design, antibody screening and affinity maturation, antibody optimization, and antibody production.  Unique to AxioMx is its proprietary phage display libraries and “rapid liquid” approach to screening and affinity maturation. This method enables AxioMx to shorten typical monoclonal antibody development times from 4 to 6 months to as little as 8 weeks. AxioMx intends to further reduce antibody development times to less than 4 weeks. The proprietary AxioMx platforms enable fast delivery of highly specific, high affinity, and reproducible recombinant antibodies that are optimized to work in a desired application. AxioMx antibodies are generated entirely in vitro which enables consistent antibody quality across production batches and does not involve the sacrifice of any animals.

“We are excited by the investments of Connecticut Innovations and Elm Street Ventures in AxioMx,” said Christopher McLeod, President & CEO of AxioMx, Inc. “Not only are they a vote of confidence in our team, they continue the critical role both funds are playing in creating a dynamic bioscience ecosystem in Connecticut.”

AxioMx services will be used principally in research and diagnostic applications across pharma, biotech, diagnostic, and life science organizations. Research groups that need a custom antibody fast, as well as an antibody that is optimized for their specific assay, will benefit from these services.

About Connecticut Innovations Inc.

Connecticut Innovations (CI) is a quasi-public corporation providing equity, debt and bond financing and other forms of financial assistance to companies in all stages of the business life cycle, from startup to later stage. CI offers its portfolio companies strategic guidance and collaborations with partners in business, finance, education, government and nonprofit sectors. CI’s initiatives are designed to grow the state’s economic and technology base, and to stimulate business investments and job creation. For more information on CI, please visit www.ctinnovations.com.

About Elm Street Ventures

Elm Street Ventures is a seed and early stage venture fund based in New Haven, Connecticut. Its emphasis is on the life sciences, with approximately 70% of its investments to date in companies developing laboratory tools, diagnostics, medical devices, therapeutics, and other health care related products and services. The remaining 30% of its commitments are in green technology, information technology and other industries. To date, Elm Street Ventures has co-founded and/or provided initial seed financing to nine of the dozen companies in its portfolio.

About AxioMx

AxioMx, founded in 2012 and based in Branford, Connecticut is a leader in recombinant antibody technologies. Its founders, Chris McLeod and Dr. Michael Weiner, are life science entrepreneurs who have previously led successful genomics, next-generation sequencing, microfluidics, bioinformatics and proteomic organizations. AxioMx’s unique platform of proprietary phage display libraries, library screening, and affinity maturation methods provide the technical foundation of the company.  The company offers a full range of custom antibody discovery and development services for the research and diagnostic market places. For more company and commercial information visit AxioMx at www.axiomxinc.com.

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