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iCFO Capital Global partnered with Addimmune to raise $50M.

February 14, 2024 by
iCFO Capital Global partnered with Addimmune to raise $50M.
Alejandra Rosas

SILICON VALLEY, CALIFORNIA - iCFO Capital Global, Inc., partnered with AddImunne to raise $50M from iCFO Capital Global investor network nationwide.

Addimmune is a Rockville, Maryland-based, clinical-stage cell and gene therapy company with a line of sight on a functional cure for HIV.  Addimune recently completed a successful FDA-approved Phase I study, which observed no severe adverse events along with successful infusion, expansion, and persistence of the modified cells in all 7 patients treated with Addimmune’s lead candidate AGT103-T, as a follow-up to the Ph 1a protocol.

IRB-approved treatment interruption study demonstrated a significant, systemic immune response in the 6 participants who consented to enroll.  A $50M capital raise is being undertaken in conjunction with 10X Capital Venture Acquisition Corp. III (NYSE American:

VCXB) (“10X III”) in the form of a senior secured convertible note. Addimmune is the result of a previously announced merger between American Gene Technologies HIV business and 10X III. Following the anticipated merger in the 1H of 2024, the publicly traded entity will operate under the name Addimmune and will use proceeds from the ongoing capital raise to fund future clinical trials of AGT103-T.

Addimmune’s potentially life-changing approach to HIV has been made possible by 15 years of pioneering research & development by American Gene Technologies (AGT™). AGT’s lentiviral vector-based delivery system provides the vehicle necessary to deliver genetic material into human cells for the purpose of altering the immune system’s response to a range of human diseases.

Why a separate company? Because the Phase 1 clinical trial of AGT103-T (its gene therapy for HIV) was so successful that AGT decided the HIV cure program deserves to be the sole focus of one business.

Jeff is the CEO and Founder of Addimmune™. He earned his BA degree in Economics from Harvard in 1981. He has more than 30 years of business and entrepreneurial experience including founder or executive positions at a variety of Silicon Valley startups.  Several of his companies were taken public and/or sold to public companies, including one in the medical-technology arena that was sold to Varian, the leading maker of linear accelerators used in cancer therapy. Following his startup experience, he retired to become an Angel Investor in real estate and high tech. He came out of retirement to found and fund AGT™ after meeting Roscoe Brady at NIH.

For more information about the company, visit: https://www.addimmune.com/

iCFO Capital Global, Inc. provides a platform for Entrepreneurs to connect with our Private Investors that makes direct debt and equity investment for early-stage and expand growth businesses. To learn more about how your business can secure the funding it needs, visit: https://www.icfocapital.com/

Schedchule a meeting with our General Partner, Anna Wang at the following link: https://calendly.com/icfo-annawang