The proceeds will be used to advance the development of their ePLC platform, treatment for chronic Hepatitis B, and a novel class of anti-cancer therapies.
PlateletBio, a preclinical stage company aiming to develop a new approach to allogeneic cell therapies, raised $75.5 million in a Series B financing round to advance its pioneering approach to the field.
The company is developing new allogeneic cell therapies based on platelet biology. Its lead candidate is in preclinical development for Immune Thrombocytopenia (ITP), an autoimmune disease. Additionally, the company will use the Series B finances to continue the development of its engineered platelet-like cell (ePLC) platform and advance its manufacturing capabilities.
Sam Rasty, president and chief executive officer of PlateletBio, called the financing round a major milestone. He added that the capital is needed to advance the company’s platelet-like cell therapy science and manufacturing platform.
“I am excited to see us progress to the next stage of growth for PlateletBio. The depth and breadth of our unique cell therapy platform enables us to develop novel medical solutions for patients and their families who are counting on us. With our Series B Financing, and the confidence from both existing and new investors, we are well-positioned to progress our science and achieve critical milestones as we advance our platform and transition into a clinical-stage biotech company,” Rasty said in a statement.
The Series B was supported by existing investors Ziff Capital Partners and Qiming Venture Partners. The financing round also saw participation from new investors, Symbiosis, K2 HealthVentures and Oxford Finance.
Massachusetts-based PlateletBio wasn’t the only company to announce financial raises today. New Jersey-based Antios Therapeutics raised $75 million in a Series B round. The proceeds will be used to advance the development of the company’s lead Phase IIb asset, ATI-2173, a potential cornerstone treatment for chronic Hepatitis B. Pre-clinical data for ATI-2173, alone and in combination with tenofovir disoproxil fumarate (TDF), indicate the potential for sustained HBV DNA suppression off treatment.
If approved, ATI-273 has the potential to be a convenient, once-daily regimen that could offer hope for millions of HBV-infected individuals worldwide, according to Antios CEO Greg Mayes.
“This round of investment enables us to accelerate the Phase 2b clinical development of ATI-2173, which has already demonstrated potent on-treatment and durable off-treatment effects, while being generally well-tolerated, in our Phase 1b study in patients with HBV,” Mayes said in a statement.
The financing round was co-led by GordonMD Global Investments and EPIQ Capital Group. New healthcare investors include Avego BioScience Capital and Heartland Healthcare Capital. All investors in the prior rounds of investment participated in the Series B-1 raise.
Startup Parthenon Therapeutics secured $65 million in a Series A financing round. The company is aiming to develop a novel class of anti-cancer therapies that reprogram the tumor microenvironment.
Laurent Audoly, co-founder and CEO of Parthenon, explained that the company’s goal is to develop first-in-class therapeutics that have the highest potential for improving the survival of the greatest number of cancer patients.
“We’re focused on reprogramming the tumor microenvironment to attack the protective barrier that half of all human cancers build to repel immune attack, a novel approach, we believe, with the potential to create an entirely new class of anti-cancer therapies,” Audoly said in a statement.
Coinciding with the company’s launch, Parthenon announced a publication in Nature that describes the role of discoidin domain receptor 1 (DDR1) in stabilizing the tumor extracellular matrix (ECM), which supports exclusion of immune-cells from tumors. The paper highlights that neutralizing DDR1, a multi-domain collagen receptor, disrupts the mechanical barrier around a tumor and promotes immune cell infiltration leading to the destruction of the tumor. According to the company, the research supports Parthenon’s program, PRTH-101, as a potential future therapy for a broad range of cancers.
The Series A was led by a trio of investors, Northpond Ventures, Pfizer Ventures and Taiho Ventures. It was also supported by additional investments from Section 32, Breakout Ventures, funds managed by Tekla Capital Management LLC, Creacion Ventures, KdT Ventures, Park West Asset Management LLC, and Alexandria Venture Investments.
Also raising $65 million is Concert Pharmaceuticals. The financing included the sale of common and preferred stock, as well as a portion of the company’s right to receive potential future royalties for AVP-786 under an existing licensing agreement with Avanir Pharmaceuticals. Concert previously granted Avanir global rights to develop and commercialize AVP-786 for the treatment of neurologic and psychiatric disorders in exchange for potential future milestones and royalties.
The financing deal provides Concert with enough money to fund operations through the fourth quarter of 2022.
