By Lori Valigra (Correspondent, Mass High Tech) Avaxia Biologics Inc., a Lexington-based developer of oral antibody drugs for the gastrointestinal tract, completed its first close of $2.2 million of a Series A financing led by angel investors, its CEO and founder Barbara Fox told Mass High Tech.
Of the total, $1.2 million was convertible debt, most of which came in in May, and $1 million was new funding that closed last Friday. The company is looking for $1.5 million to finish the Series A round by the end of the year, Fox said. She added that the company is in advanced discussions with several other qualified investors.
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