Global Blood Therapeutics (GBT), a South San Francisco, CA-based biopharmaceutical company developing novel, small molecule therapeutics for the treatment of severe blood disorders, closed a $48m Series B financing.
Backers included Wellington Management Company LLP, RA Capital, Deerfield Management, Sabby Capital, Perceptive Life Sciences, an affiliate of Cowen Group and one undisclosed blue chip public investment fund.
The company intends to use the funds to advance its lead drug candidate, GBT440, for the treatment of sickle cell disease (SCD), which has shown promising results in preclinical testing.
Led by Ted W. Love, M.D., chief executive officer, Global Blood Therapeutics is addressing serious, non-malignant blood-based conditions for which there are currently no effective cures and only limited therapeutic options. Its lead drug candidate, GBT440, is a potentially diseasemodifying therapeutic for patients with sickle cell disease. GBT440 has shown promising results in preclinical testing and the company is initiating a Phase I/II clinical trial.
In addition to GBT440, the company is advancing pipeline research programs addressing hereditary angioedema (HAE) and hypoxic cardiopulmonary disorders.