aTyr Pharma, Inc., a San Diego, CA-based biotherapeutics company engaged in the discovery and development of Physiocrine-based therapeutics to address rare diseases, completed a $76m Series E financing.
The round was led by new investors Sofinnova Ventures and an undisclosed large institutional investor in the biotechnology industry with participation from certain funds and accounts advised by T. Rowe Price Associates, Inc., Federated Investors, Deerfield; Rock Springs Capital Management, EcoR1 Capital, Sphera Global Healthcare, as well as current venture capital investors and a current public investment fund. In conjunction with the financing, Srinivas Akkaraju, M.D., Ph.D., and general partner at Sofinnova Ventures joined aTyr’s board.
The company plans to use the proceeds to further develop its pipeline and advance its lead program through clinical trials, including an ongoing Phase 1b/2 trial of Resolaris, an investigational new drug representing its first Physiocrine-based product candidate in the clinic.
Led by John Mendlein, CEO and executive chairman, aTyr Pharma is engaged in the discovery and clinical development of innovative medicines for patients suffering from severe rare diseases using its knowledge of Physiocrine biology, a newly discovered set of physiological modulators. To protect this pipeline, the company has built an intellectual property estate comprising 24 patents and over 200 pending patent applications.
Its key programs are currently focused on severe, rare diseases characterized by immune dysregulation, for which there are currently limited or no treatment options.