Abvance Therapeutics Secures Strategic Seed Financing & Leadership Expansion at ADA Scientific Sessions

Business Upturn

13 hours ago

CHICAGO, June 24, 2025 (GLOBE NEWSWIRE) — Abvance Therapeutics, a biotechnology company developing next-generation glucagon analogs and therapies to prevent hypoglycemia and improve glucose management, today announced the closing of its initial seed financing led by Zubi Capital, in conjunction with the 85th Scientific Sessions of the American Diabetes Association, held in Chicago. The financing will support the company's early development programs and expansion of its executive and board leadership.
Abvance's discovery platform builds on foundational research conducted at Vanderbilt University, including the work of Dr. Alan Cherrington, whose contributions helped shape the company's scientific approach. Abvance is developing practical, predictable glucagon analogs—and co-formulations that include glucagon analogs—designed to integrate seamlessly into modern treatment regimens for people with diabetes.
Edward Raskin has been appointed Chief Executive Officer, bringing extensive experience in diabetes-focused biotechnology and health technology. Mr. Raskin was previously a co-founder of Beta Bionics and played a key role in advancing the first bihormonal bionic pancreas. Dr. David Maggs, MD, a co-founder of Abvance, will serve as Chief Medical Officer. Rounding out the leadership team are Veena Rao, Ph.D. as Chief Operating and Commercial Officer, Michael Nguyen as Chief Development Officer, and Gibb Clarke as Chief Financial Officer.
The company also announced the appointment of two new members to its Board of Directors: Jaivir Pall, Investment Director for diabetes at Zubi Capital, and Brent Ahrens, General Partner at Canaan Partners.
'I have first-hand experience with the challenges of hypoglycemia and Abvance is focusing on leveraging a well-characterized, but underutilized mechanism to bring peace of mind to people living with diabetes everywhere,' said Jaivir Pall, Investment Director for diabetes at Zubi Capital. 'We see an opportunity to support a team that brings not just scientific rigor, but a clear understanding of the treatment ecosystem and patient experience.'
'This is a thoughtful, experienced team working in a space that still leaves many patients vulnerable,' said Brent Ahrens. 'They're not trying to replace what works—they're focused on closing the remaining gaps.'
Edward Raskin, CEO of Abvance, added: ' We believe chronic glucagon therapy deserves a more integrated role in glucose management. Our goal is to develop treatments that can enhance safety and flexibility by preventing hypoglycemia, without increasing patient burden. We're excited to move that vision forward with the support of our new partners and advisors.'
Abvance's glucagon analogs are engineered for flexible use, whether in fixed-ratio combinations with insulin taken at mealtime, or in other novel applications. The Company is focused on products with pharmacologic profiles tailored to mitigate hypoglycemia without disrupting the underlying diabetes therapy. Its initial focus is on insulin-requiring populations for whom hypoglycemia remains a persistent barrier to tight glycemic control and quality of life.
About Abvance Therapeutics
Abvance Therapeutics, Inc. is a privately held biotechnology company advancing novel glucagon-based therapies designed to integrate into the lived experience of diabetes care. Founded on research from Vanderbilt University and led by a team with expertise in diabetes therapeutics, drug development, and health technology. For more information visit www.abvancetherapeutics.com
About Zubi Capital
Zubi Capital is an alternative asset manager committed to delivering strong financial returns alongside measurable social and environmental impact. As part of the Zubi Group—a collective of mission-driven companies using business and investment to address global challenges—Zubi Capital believes that capital can be a force for positive change without compromising performance.
By combining rigorous financial discipline with an impact-first philosophy, Zubi Capital invests in solutions that contribute to a more resilient and sustainable future. The firm embodies the conviction that profitability and purpose not only coexist—they reinforce one another. Learn more at www.zubicapital.com.
Media & Investor Contact
Edward Raskin
[email protected]
Veena Rao
[email protected]
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