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Angel Investor (Group)
northcountryangels.com

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Investments

11

Portfolio Exits

2

About North Country Angels

Angel investors usually focus on companies that have already developed a basic concept and business strategy and are in the seed stage of investment. An emphasis is placed on business enterprises with the potential for rapid growth. In addition to offering significant capital to launch business entities, many "angels" also offer their business expertise and actively participate in the management, operation, and marketing of the business.

North Country Angels Headquarters Location

Vermont,

United States

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Latest North Country Angels News

Avaxia Receives $11.4 Mln in Series B Financing

Jun 7, 2013

Avaxia Receives $11.4 Mln in Series B Financing June 7, 2013 By Iris Dorbian Avaxia Biologics, a Lexington, MA-based biopharmaceutical company, said on Friday that the company has completed $11.4 million in Series B financing. Also participating in the round were new investors AbbVie Inc., Ariel Southeast Angel Partners and Tech Coast Angels as well as existing investors Beacon Angels, Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels, North Country Angels, the Beta Fund, Granite State Angels, the Keiretsu Forum and Maine Angels. — Avaxia Biologics, Inc., a clinical-stage biopharmaceutical company developing gut-targeted therapeutics, announced today that the company closed its Series B financing with total proceeds of $11.4 million. The round was led by Cherrystone Angels and Golden Seeds. New investors AbbVie Inc., Ariel Southeast Angel Partners, and Tech Coast Angels joined existing investors Beacon Angels, Boston Harbor Angels, Launchpad Venture Group, Mass Medical Angels, North Country Angels, the Beta Fund, Granite State Angels, the Keiretsu Forum, Maine Angels, and individual investors. In connection with the financing, AbbVie will join the board of directors. Avaxia will primarily use the proceeds to advance the clinical development of its lead program, AVX-470, for the treatment of inflammatory bowel disease (IBD). “The Series B financing represents an important milestone for Avaxia in the process of developing a safe, effective, oral therapy for patients suffering from IBD. We’re pleased to have AbbVie join our board and engage their expertise in gastroenterology as we advance the development of innovative, gut-targeted therapeutics like AVX-470,” said Barbara S. Fox, CEO of Avaxia. About Inflammatory Bowel Disease Inflammatory bowel disease (IBD) is a serious disease that has a major societal impact. IBD refers to two related but different diseases: ulcerative colitis and Crohn’s disease. More than 2.5 million people are afflicted with IBD. These diseases cause chronic inflammation of the intestinal tract, which leads to a variety of debilitating symptoms resulting in a significant reduction in quality of life and the risk of life-threatening complications and diseases, including cancer. A chronic disease, IBD is characterized by periods of active disease alternating with periods of disease control (remission). The annual worldwide market for IBD medications exceeds $4.5 billion, approximately $2.5 billion of which represents sales of currently marketed anti-TNF antibodies. About AVX-470 AVX-470 is a gut-targeted anti-TNF antibody that has the potential to be a transformative first-line therapy for inflammatory bowel disease (IBD). Currently marketed anti-TNF antibodies are injected and distribute throughout the body to block specific parts of the immune system that play a role in inflammation. Evidence from current clinical practice suggests that if safety can be improved, patient outcomes may be enhanced when anti-TNF therapy is initiated earlier in the course of IBD treatment. AVX-470 is an orally administered anti-TNF antibody that targets its immunosuppressive effects to the gastrointestinal tract to minimize the potential for side effects in other parts of the body. This potential to confine immunosuppression to where the disease occurs differentiates AVX-470 from other anti-TNF antibodies and offers the possibility for AVX-470 to become a first-line therapy for the treatment of IBD. Earlier this year, Avaxia initiated a Phase 1b clinical trial of AVX-470 in patients with active ulcerative colitis. About Avaxia Biologics Avaxia is a leader in the growing field of gut-targeted therapeutics — orally administered, minimally absorbed drugs that are designed to act locally in the gastrointestinal tract. Avaxia’s lead clinical candidate, AVX-470, is an oral anti-TNF antibody for inflammatory bowel disease (IBD). This transformative product offers potentially improved safety and efficacy by focusing immune suppression only where needed in the diseased gut. Avaxia is using its proprietary oral antibody platform to develop gut-targeted therapeutics to address other serious diseases such as type 2 diabetes, celiac disease, GI acute radiation syndrome, and oral mucositis. Avaxia controls all rights to its products and programs, and is actively seeking collaborations in these and other areas. www.avaxiabiologics.com © 2015 Buyouts Insider / Argosy Group LLC

North Country Angels Investments

11 Investments

North Country Angels has made 11 investments. Their latest investment was in Avaxia Biologics as part of their Series B - II on June 6, 2013.

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North Country Angels Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/7/2013

Series B - II

Avaxia Biologics

$5M

No

2

12/18/2012

Series B

Avaxia Biologics

$6.4M

No

2

5/7/2012

Bridge

Incentive Targeting

$0.75M

No

4/16/2012

Series A - II

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$99M

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0

2/14/2012

Series A - II

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$99M

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10

Date

6/7/2013

12/18/2012

5/7/2012

4/16/2012

2/14/2012

Round

Series B - II

Series B

Bridge

Series A - II

Series A - II

Company

Avaxia Biologics

Avaxia Biologics

Incentive Targeting

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Amount

$5M

$6.4M

$0.75M

$99M

$99M

New?

No

No

No

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Co-Investors

Sources

2

2

0

10

North Country Angels Portfolio Exits

2 Portfolio Exits

North Country Angels has 2 portfolio exits. Their latest portfolio exit was Incentive Targeting on November 28, 2012.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

11/28/2012

Acquired

$99M

1

10/26/2012

Acquired

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$99M

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0

Date

11/28/2012

10/26/2012

Exit

Acquired

Acquired

Companies

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Valuation

$99M

$99M

Acquirer

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Sources

1

0

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