The round was led by AB Magnitude Ventures Group with Ipsen Pharma SA and Sherpa Healthcare Partners. The new funding will enable the company to drive its BAKX Activator Program into the clinic in hematologic malignancies and solid tumors and to advance additional targets for solid tumors and prevention of resistance. The financing comes on the heels of the company's recent announcement of a partnership comprising up to $852 million in upfront and potential milestone payments with Ipsen, a global biopharmaceutical company, to research, develop, manufacture and commercialize the company's lead candidate, BKX-001, as a potential treatment for leukemia, lymphoma and solid tumors.

BAKX Therapeutics is a New York and Boston based company focused on developing safer, more effective therapeutics that fully realize the potential of the mitochondrial apoptosis pathways. BAKX was co-founded by world leading researchers in the field of apoptosis and computationally aided drug discovery. The company's leading asset BKX-001 (partnered with Ipsen) is focused on targeting the BAX protein. In addition, the BAKX platform is deployed towards drugging other undisclosed apoptosis targets implicated in various solid tumors and the build up of resistance. For more information, visit bakxtx.com.