Ambit Biosciences is a San Diego-based biopharmaceutical company focused on developing small-molecule kinase inhibitors for cancer and inflammatory diseases. Its lead candidate is quizartinib (AC220), an oral FLT3 inhibitor currently in clinical trials for relapsed/refractory and treatment‑naive AML. Quizartinib is being developed in collaboration with Astellas Pharma under a worldwide agreement to jointly develop and commercialize FLT3 kinase inhibitors. Ambit's clinical pipeline also includes AC430, an oral JAK2 inhibitor, and CEP-32496, a BRAF inhibitor licensed to Teva, and its preclinical portfolio includes a proprietary CSF1R inhibitor. The company plans to use proceeds from a new $50M financing (the first $25M tranche has closed) to continue advancing quizartinib. Michael Martino serves as President and CEO. Ambit Biosciences focuses on discovery and development of small-molecule kinase inhibitors, with a clinical pipeline that includes AC220, AC430, and AC480 and preclinical candidates such as CEP-32496. Its lead candidate, AC220, is a potent, selective, orally bioavailable FLT3 inhibitor being developed in collaboration with Astellas Pharma and is in a Phase 2 pivotal trial for relapsed/refractory AML with FLT3 ITD mutations. AC430 is an oral JAK2 inhibitor and AC480 is a pan-HER inhibitor, both in Phase 1 trials. The company also has partnered or licensed assets (CEP-32496 licensed to Cephalon) and describes an approach to optimizing and selecting potential new drugs. Ambit is privately held and raised new capital in this financing to continue clinical development across its clinical assets. The company announced that the financing provided sufficient funding to pursue its strategy and enabled it to withdraw plans for an initial public offering. Ambit Biosciences is a San Diego–based developer of small‑molecule profiling tools used in biopharmaceutical development. The company reported an ongoing debt financing and has disclosed $6.5M raised to date in that round. According to the firm's filing it is raising up to $19.7M in debt, including warrants. Details on the debt financing (investor identities and specific terms) were not released in the filing. Ambit has previously raised over $105M in venture funding. Historical investors named in filings include Apposite Capital, MedImmune, OrbiMed, Radius Ventures, NovaQuest, Horizon Technology Finance, Avalon Ventures, Perseus‑Soros Biopharmaceutical Fund, Forward Ventures, Roche Venture Fund, Lumira Capital, GIMV, Genechem Management, and Bristol‑Myers Squibb. Ambit Biosciences is a San Diego-based biotechnology company focused on developing small-molecule kinase inhibitors for the treatment of cancer. Its core product strategy centers on advancing small-molecule kinase inhibitor candidates through development. The company announced a $49.3M Series D equity financing to help advance its product pipeline. The financing syndicate includes strategic life-science investors and venture funds. Ambit intends to apply the proceeds toward progressing its pipeline candidates and clinical efforts. The article does not disclose operating metrics such as revenue or user figures.

Total raised

$111M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2012