Blade Therapeutics, a South San Francisco, CA-based private biopharmaceutical company advancing novel anti-fibrotic therapies, closed its second tranche of Series B financing.
The selection of the clinical development candidate triggered funding of the remaining tranche for the $45m U.S. Series B financing, which closed in June of 2016. The Series B included investment from Deerfield Management, MPM Capital, Pfizer Venture Investments, Novartis Institutes for Biomedical Research, Bristol-Myers Squibb and Osage University Partners.
The company intends to use the proceeds from this second tranche to advance the development candidate into the clinic as a novel treatment for fibrotic diseases as well as to continue to build out the pipeline.
Led by Chief Executive Officer Wendye Robbins, MD, and Executive Vice President of Business Development Felix Karim PhD, Blade has nominated a clinical development candidate for its lead program focused on small molecule inhibitors that selectively target certain intracellular cysteine proteases.
In addition to the clinical candidate, the company also looks to leverage its expertise in fibrosis to build a pipeline of novel anti-fibrotic agents.