The Boston-area company’s previous raises were also aimed at getting its investigational antibody treatment for inclusion body myositis through clinical trials. Now, Abcuro is eyeing a regulatory submission and potential launch.
Abcuro announced an infusion of rocket fuel Wednesday, with the closing of a $200 million Series C financing round.
The Newton, MA–based company will use the money in part for a Phase II/III MUSCLE clinical trial for ulviprubart, an antibody against killer cell lectin-like receptor G1 (KLRG1), to treat a rare, chronic inflammatory muscle disease called inclusion body myositis. The company is planning to file a Biologics License Application (BLA), with some of the funds going toward a commercial launch.
Inclusion body myositis is an inflammatory and degenerative muscle disease usually occurring in older adults, causing a gradual painless muscle weakness. There is currently no medical treatment for myositis. Patients for now rely on exercise and physical therapy to preserve muscle strength.
“Continued support from all of our investors in this latest financing round validates our vision for the potential that ulviprubart may have as a novel treatment for progressive and devastating diseases mediated by highly cytotoxic T cells, including Inclusion Body Myositis” Abcuro CEO Alex Martin said in Wednesday’s release.
Abcuro is also testing ulviprubart in a Phase I/II trial testing its efficacy in adults with T cell large granular lymphocytic leukemia.
The Series C raise was led by New Enterprise Associates, with new investor Foresite Capital and a gaggle of existing investors including Bain Capital Life Sciences and Sanofi Ventures. The round follows an August 2023 oversubscribed Series B, which brought in $155 million that also went toward completing the Phase II/III trial for ulviprubart. Two and a half years earlier, the company brought in $42 million in a Series A-1 round.
