Abcuro Announces $155 Million Oversubscribed Series B Financing To Further Advance Autoimmune Pipeline
PRIVATEAug 17, 2023
Amount Raised
$155 Million
Round Type
Series B
NewtonvilleBiotechnologyHealth CareTherapeutics
Investors
Soleus CapitalEurofarmaMass General Brigham VenturesBlack RockTekla Capital Management, LlcPontifaxNew Leaf VenturesSanofi VenturesSamsara Bio CapitalRA Capital ManagementBain Capital Life SciencesRedmile Group
Description
Abcuro, Inc., a clinical-stage biotechnology company developing therapies for the treatment of autoimmune diseases and cancer through precise modulation of cytotoxic T and NK cells, today announced the successful close of an oversubscribed $155 million Series B financing co-led by Redmile Group and Bain Capital Life Sciences.
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Company Information
Company
Abcuro
Location
55 Chapel Street Suite 200
Newtonville, Massachusetts, United States
About
Abcuro is a clinical stage biotechnology company developing treatments for autoimmune and cancer indications modulated by cytotoxic T and NK cells that express the inhibitory immune checkpoint receptor KLRG1 (killer cell lectin-like receptor G1). The company is advancing ABC008, a first-in-class anti-KLRG1 antibody designed to deplete cytotoxic T cells that attack healthy muscle tissue in patients with inclusion body myositis (IBM), into clinical studies. IBM is a progressive and debilitating inflammatory skeletal muscle condition with no available pharmaceutical therapies. Abcuro has received FDA orphan drug designation for ABC008 in IBM. The company is also advancing ABC015, an anti-KLRG1 blocking antibody capable of reactivating inhibited cytotoxic T and NK cells in the tumor microenvironment.
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NewtonvilleBiotechnologyHealth CareTherapeutics