Landos Biopharma, Inc., a Blacksburg, VA-based biopharmaceutical company focused on developing improved treatments for autoimmune diseases, raised $10m in a Series A financing.
The round was led by life sciences investment management firm Perceptive Advisors, LLC.
The company intends to use the funds to complete remaining IND-enabling studies, file an IND for BT-11 in 2018 and to complete Phase 1 clinical testing by early 2019.
Founded by serial entrepreneur and innovator Dr. Josep Bassaganya-Riera, and led by Chairman and CEO, Dr. Josep Bassaganya-Riera, Landos is advancing a pharmaceutical pipeline for autoimmune diseases toward commercialization and will partner operational efforts with Xontogeny, LLC, a life sciences accelerator operating company led by industry veteran Chris Garabedian.
The company will focus its development efforts in a novel target pathway called Lanthionine Synthetase C-Like 2 (LANCL2), which has shown promise for the treatment of autoimmune diseases by engaging a unique mechanism of action that exerts potent anti-inflammatory effects.
Landos’ lead product candidate BT-11 is an orally active, locally-acting therapeutic for treatment of Crohn’s disease and ulcerative colitis that has shown a benign safety profile in animal models and that is advancing toward an Investigational New Drug (IND) filing.