Bond Biosciences Announces Closing of Series A Financing
Company completes $5 million Series A financing to enable Phase 1b studies for lead candidate BBI-001 in patients with Hereditary Hemochromatosis.
NEW YORK--(BUSINESS WIRE)-- Bond Biosciences, Inc., is a privately held biopharmaceutical company focused on the discovery and development of first-in-class non-absorbed oral therapeutics that bind excess ions locally in the gastrointestinal (GI) tract to treat or prevent human disease.
Bond’s clinical lead, BBI-001, is a non-absorbed oral therapeutic designed to bind dietary iron and inhibit iron absorption in patients that suffer from iron overload associated with Hereditary Hemochromatosis. Patients with excess iron in their body have a higher risk of damage to liver disease, heart tissue, and contracting other conditions.
“Years of research have led to a novel polymeric compound that forms a stable, multivalent chelate to bind dietary iron. Our clinical studies will determine if BBI-001 can reduce or eliminate the need for lifelong phlebotomies in Hereditary Hemochromatosis patients,” said Dr. Cory Berkland, Bond’s CEO, Chairman of the Board and Co-founder. “We anticipate a compelling safety profile due to BBI-001’s restriction to the GI tract and existing animal data provide evidence of BBI-001’s ability to rapidly and selectively bind significant quantities of both elemental iron and heme iron.”
“This financing allows Bond to finish preclinical studies and complete a Phase 1b trial in Hereditary Hemochromatosis patients, which we anticipate will include human clinical proof-of-mechanism and, ultimately, offer the first therapeutic option for Hereditary Hemochromatosis patients,” said Michael Riley, Bond’s Chief Operating Officer, Member of the Board and Co-founder.
The Series A was led by Collage Partners LLC, a venture placement firm focused on financing transformative biopharma companies. “We are thrilled to back a team that can efficiently advance Bond’s pipeline of non-absorbed polymer drugs into the clinic,” said Dexter Pearson, a partner at the firm, “we believe these compounds can safely, conveniently, and effectively treat patients suffering from a variety of diseases for which there are no good therapeutic options, including Hereditary Hemochromatosis.”
BBI-001 is a novel, non-absorbed oral therapeutic that forms a high avidity and selective iron chelate. BBI-001 was designed to rapidly and selectively bind dietary forms of iron, including heme, to reduce iron absorption in patients that suffer from iron overload due to Hereditary Hemochromatosis. The structure and properties have been designed to restrict BBI-001 to the GI tract to maximize safety and speed regulatory approval.
About Bond Biosciences
Bond is a privately held biopharmaceutical company focused on the discovery and development of first-in-class non-absorbed oral therapies that bind excess ions locally in the gastrointestinal (GI) tract to treat or prevent human disease. The Company’s portfolio is comprised of its lead, BBI-001, in addition to other research stage non-absorbed therapies.
Cory Berkland, CEO
Source: Bond Biosciences, Inc.