Orbus Therapeutics Inc., a Palo Alto, CA-based clinical-stage biopharmaceutical company, completed a $32.5m Series A financing.
The round was led by Longitude Capital, H.I.G. BioVentures and Adams Street Partners. Dr. Ernest Mario also participated in the financing and joined as the Chairman of the Board.
Dr. Mario is currently Chairman of Capnia, Inc. and Chimerix, Inc., and was formerly Deputy Chairman of Glaxo Holdings plc, and Chairman and CEO of ALZA Corporation.
The company intends to use the funds to conduct a Phase 3 clinical trial evaluating its promising therapeutic product candidate, eflornithine.
Led by Bob Myers, Co-Founder and Chief Executive Officer, Orbus Therapeutics focuses on the development and commercialization of therapies that treat rare diseases. The Company’s product candidate in clinical development is eflornithine, a novel cytostatic agent, which it is developing to treat patients with recurrent anaplastic astrocytoma (rAA), a rare form of central nervous system cancer.