resTORbio, Inc., a Boston, MA-based clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, completed a $40m Series B financing round.
The round, which brings the total capital raised this year to $65m, including a $25m Series A financing that was completed earlier this year, was led by OrbiMed with participation from Fidelity Management & Research Company, Rock Springs Capital, Quan Capital and Nest Bio. In connection with the financing, Jonathan Silverstein, Partner and a Co-Head of Global Private Equity at OrbiMed, will join the resTORbio board of directors.
The company plans to use the funds to advance the development of RTB101, a selective Target of Rapamycin Complex 1 (TORC1) inhibitor through Phase 2b clinical trial and, if successful, into a Phase 3 clinical program, as an immunotherapy to reduce the incidence of respiratory tract infections (RTIs) in elderly subjects.
The funds are also expected to be used to expand the program into a Phase 2 clinical trial in an additional aging-related indication.
Led by Chen Schor, President and CEO, resTORbio is advancing RTB101, an orally-administered, potent TORC1 inhibitor, an immunotherapy designed to address immunosenescence, the decline in immune function that occurs with age. RTB101, alone and in combination with everolimus, is being evaluated in a Phase 2b clinical trial to reduce the incidence of RTIs in elderly individuals at risk of mortality or morbidity due to RTIs which are caused by a broad spectrum of pathogens.