Ambit was an American pharmaceutical company focused on development of kinase inhibitor therapeutics to treat a variety of human diseases.[1][2] As of March 2014, the company was based in San Diego, California, and consisted of a single facility.[3] Ambit made an initial public offering in May 2013,[3] and was listed on the NASDAQ exchange under the symbol "AMBI".[4] Ambit was acquired by Daiichi Sankyo in 2014 and is no longer traded on the NASDAQ exchange.[5]
Products
As of March 2014, three products were under development, of which quizartinib was their lead drug candidate.[1]
Business model
In June 2010, Ambit completed a Series D-2 round of equity financing, raising $30 million in new capital.[6] The investor syndicate was led by Apposite Capital LLP and included existing investors such as Perseus-Soros Biopharmaceutical Fund, OrbiMed Advisors, Forward Ventures, Roche Venture Fund, MedImmune Ventures, GIMV, GrowthWorks, Genechem, Radius Ventures, NovaQuest and Horizon Technology Finance.[7]
As of March 2014, Ambit sought to develop new therapeutics through internal, proprietary research, which is evidenced by their pipeline of three products consisting entirely of internally developed therapeutics.[1] Further, Ambit aimed to be a full life cycle pharmaceutical company by conducting discovery, development and further commercialization of therapeutics.[1]
Among the firms who invested heavily in Ambit prior to its initial public offering was Foresite Capital in January 2013.
References
- Form 10-K: Ambit Biosciences Corporation. Commission file number: 001-35919 EDGAR, U.S. Securities and Exchange Commission, March 20, 2014, retrieved 2017-06-27^
- The SEC 10K submission for 2013 indicates that the company is a "biopharmaceutical" company, which implies that they are primarily developing biopharmaceuticals; however, their lead product is a small molecule therapeutic, calling into question the term used in the SEC submission.^
- Brady Huggett. Burning bright Nature Biotechnology, December 2013^