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Ambrx Looks Across Pacific For A Secure Future

 
• By Ian Haydock

Rather than reviving its own IPO plans, U.S. bioventure Ambrx has turned to a consortium of Chinese investors to secure its future via an acquisition deal that will provide funding for its pipeline and facilitate access to a large market and new partners.

Ambrx Inc. originally filed for an initial public offering in the U.S. around a year ago, through which the San Diego-based venture was planning to raise around $86 million to progress its R&D projects. But the bio-conjugates firm called off the float in June 2014 citing unfavorable market conditions and has since been mostly quiet, releasing few updates on its activities.

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