Anaveon is a late pre-clinical phase biotech developing next generation therapeutic antiobodies for tumor immunotherapy in melanoma, kidney carcinoma and lung cancer. Anaveon develops a selective interleukin-2 receptor (IL-2 receptor) agonist to fuel a patient’s immune system to respond to tumors. The naturally occurring IL-2 receptor stimulates a type of immune cell called a T-cell to attack tumors. Il-2 is already being used for the treatment of cancer. However, there are side effects and dose limiting toxicities associated with IL-2 therapy. Anaveon`s approach plans to overcome these challenges and the proceeds of the Series A financing will now enable further development of its lead compound, as announced in a press release.