Landos Biopharma, Inc., a Blacksburg, Va.-based clinical-stage biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases, closed a $60m Series B financing.
The round was co-led by RTW Investments and Perceptive Advisors (Perceptive Xontogeny Venture Fund and Perceptive Life Sciences Fund), and joined by additional new investors, including Osage University Partners and PBM Capital. In conjunction with the funding, Rod Wong, M.D., managing partner at RTW Investments, joined the Landos Board of Directors, along with Konstantin Poukalov of Perceptive Advisors.
The company intends to use the funds to accelerate Phase 2 development of BT-11 for UC and Crohns as well as advance additional candidates to treat autoimmune diseases.
Led by Dr. Josep Bassaganya-Riera, Chairman of the Board, President, and CEO, Landos Biopharma is a clinical-stage biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases. Its lead clinical asset, BT-11, is an oral therapeutic that acts locally in the gastrointestinal tract for treatment of inflammatory bowel disease (IBD).
The company, which has completed Phase 1 clinical testing and has initiated Phase 2 clinical testing of BT-11 for inflammatory bowel disease in 2019, also has a pipeline of new compounds for other autoimmune diseases, several of which Landos anticipates will advance to IND and Phase 1 clinical testing in 2020.