Money on the Move: September 1 – 7
Life sciences funding rounds were quieter this week with the Labor Day holiday. Here’s the short list.
Asher Bio
Fresh-faced Asher Bio is just five months past its official launch and already announcing its second raise. Last week’s $108 million Series B will propel Asher’s suite of immunotherapies towards the clinic. Lead candidate AB248 will go through a clinical proof-of-concept while a second program heads to IND-enabling studies. AB248 is an IL-2 immunotherapy targeting CD8+ effector T cells with enhanced anti-tumor efficacy and improved tolerability. An IND filing is expected by Q3 of next year.
Disc Medicine
Two-year-old Disc scooped up $90 million for its rare blood disease pipeline. The Cambridge biopharma is focusing R&D efforts on modulating two critical processes required for functional red blood cells (RBCs): heme biosynthesis and iron metabolism. The Series B will support Disc’s lead programs: DISC-0974, an anti-hemojuvelin (HJV) monoclonal antibody designed to suppress hepcidin and enhance iron levels in order to treat anemia of inflammation, and bitopertin, an inhibitor of glycine transporter 1 (GlyT1). DISC-0974 is first aimed at myelofibrosis patients with transfusion-dependent anemia, with plans to study the drug in patients with CKD who also suffer from anemia. Disc licensed bitopertin earlier this year from Roche.
Via Nova Therapeutics
Oakland-based Via Nova took in $20 million this week from Aditum Bio for its preclinical antiviral programs in-licensed from Swiss giant Novartis. The portfolio targets several respiratory viruses – influenza, adenoviruses and rhinoviruses – as well as human polyomaviruses, which cause severe disease in patients who are immunocompromised. "These infections have important clinical consequences but have been underserved by the therapeutic community," said Dr. Ganem, Via Nova's CEO. "Our relationship with Aditum creates opportunities to bring these innovative therapies efficiently to the clinic - and to discover additional antivirals in the future."
Tapping its familiar investor syndicate list, Onkos raised $15 million in its Series C to accelerate its R&D pipeline, expand commercial footprint and evolve manufacturing capabilities. The New Jersey company innovates solutions for musculoskeletal oncology and complex orthopedic procedures to address the three main challenges – implant loosening, soft tissue failures and infection. In June, Onkos received FDA clearance of its BioGrip 3D-printed implant technology as part of its ELEOS Limb Salvage System. The system is designed to support bone ingrowth and address the challenge of implant loosening in limb salvage.