Abcuro, Inc., a clinical-stage biotechnology companyRecently, it was announced that the investment in 1The $5.5 billion Series B financing was overcompleted.
New and existing investors participating in the financing also include RA Capital Management, Samsara BioCapital, Sanofi Ventures, New Leaf Ventures, Pontifax, Tekla Capital Management, LLC Managed**, BlackRock Managed Accounts, Mass General Brigham Ventures, Eurofarma and Soleus Capital.
Alex Martin, CEO of Abcuro, said:"The support of such a strong investor base will allow us to complete development projects in areas of diseases where there are almost no ** options. We are motivated by the service we can provide to our patients, and we are excited by the clinical data to date. We are committed to conducting clinical trials, including a registration trial for inclusion body myositis. ”
Abcuro will use the proceeds from the financing to complete a Phase 2 3 registrational clinical trial evaluating the efficacy of ABC008** inclusion body myositis (IBM), a first-in-class monoclonal antibody targeting killer cell lectin-like receptor G1 (KLRG1). The company will also focus on completing the Phase 1 2 clinical trial of ABC008** T-cell large granular lymphocytic leukemia (T-LGLL) and initiating the Phase 1 and 2 clinical trials of T cell and NK cell lymphoma.
IBM, like other autoimmune diseases, is a progressive disease that can be devastating to patients. Targeted clearance of KLRG1-expressing cytotoxic T cells with ABC008 is a novel approach that has yielded exciting early data in IBM patients"Chief Medical Officer, Abcuro, M.D. HJeffrey Wilkins said. "These data also support the use of ABC008 for other diseases such as cytotoxic T-cell pathogenic T-LGLL and KLRG1-expressing malignant mature T cell and NK cell lymphoma. We look forward to further advancing these programs in the clinic."