Months after going public, Apexigen lays of 55% of staff and considers exit routes

Where did it all go wrong for Apexigen? Seven months after going public via a SPAC merger, the Epitomics spinout is already culling half its workforce and looking for a potential buyer or other escape route.

In August last year, Apexigen hit the public markets via a merger with a special purpose acquisition company. At the time, the company touted emerging phase 2 data claiming to show a “significant opportunity” for its lead candidate, a CD40 agonist dubbed sotigalimab, in solid tumors.