American Gene Technologies International Stock

americangene.comHealthcare / BioTech & PharmaFounded: 2007Funding to Date: $72.88MM

American Gene Technologies ("AGT") is an emerging gene and cell therapeutics company with a proprietary lentiviral platform capable of broad applications including large and orphan indications, infectious disease, immune-oncology, and monogenic disorders.

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Team

Management Team

David Pauza Ph.D
Chief Science Officer
Norman Rogers
Executive, Business Development
Jeffrey Galvin
Co-Founder, Chief Executive Officer & Board Member
Neil Lyons
Chief Financial Officer & Executive Vice President

Board Members

Julia Brown
Qi Tang
Jeffrey Galvin
Aaron Galvin
Tommy Thompson JD

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American Gene Technologies (AGT) is spinning out a new company, Addimmune, to focus on developing a cure for HIV. Addimmune will continue AGT's work on AGT103-T, a gene and cell therapy that completed Phase I trials with positive safety results. The therapy is a single-dose treatment that delivers gene-therapy modified, HIV-specific CD4 T cells to people with HIV, with the aim of restoring natural immune control of the virus.
The article discusses grocery delivery start-up, Instacart's valuation reaching $39 billion following its latest funding round of $265 million. This valuation is triple its previous one in 2020, indicating a surge in demand for its service amid the pandemic. The firm plans to use the funds for expanding its business.
American Gene Technologies International plans to make its Addimmune division a publicly traded company via a special purpose acquisition company (SPAC). Addimmune is developing a gene and cell therapy for HIV, and the SPAC spinoff could raise $500 million to fund larger clinical studies. The public offering is expected to be completed in early 2024.
American Gene Technologies (AGT) has signed a blank-check deal to spin off its HIV-focused subsidiary, Addimmune, to special purpose acquisition company 10X Capital Venture Acquisition Corp. III. The deal, which sees all non-HIV assets spun out into a separate entity retaining the AGT name, is expected to close in Q1 2024. The agreement represents a pre-money enterprise value of $500 million for Addimmune and offers $300 million tied to milestones.
Updated on: Jul 26, 2024

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