Epirus Biopharmaceuticals, Inc., a Boston, MA-based biopharmaceutical company focused on the global development and commercialization of biosimilar monoclonal antibodies, closed a $36m Series B financing.
The round was led by Livzon Mabpharm, Inc., with participation from Adage Capital, Greenwoods Investment, Gibralt US, Monashee Capital Partners, an investment affiliate of Mousse Partners, as well as existing investors TPG Biotech, Montreux Equity Partners and 5AM Ventures. In conjunction with the funding, Daotian Fu, Ph.D., CEO of Livzon Mabpharm, Inc., joined Epirus’ board of directors.
The company intends to further develop the Epirus product BOW015 and initiate an additional Phase 3 clinical trial in Europe in early 2015, as well as to conduct development activities for its pipeline.
Led by Amit Munshi, president and CEO, Epirus develops BOW015, a biosimilar version of infliximab, a biologic therapy marketed under the name REMICADE® (Johnson and Johnson), which includes BOW050 (biosimilar to Humira® – AbbVie) and BOW030 (biosimilar to Avastin® – Genentech).
The company is actively progressing applications for marketing approval for BOW015 in targeted global markets.