89Bio, a San Francisco, CA-based clinical-stage biopharmaceutical company focused on nonalcoholic steatohepatitis (NASH) and other liver and metabolic disorders, closed a $60m Series A financing.
The round was led by OrbiMed Israel, OrbiMed US, and Longitude Capital and joined by RA Capital Management and Pontifax.
The company intends to use the funds to advance its pipeline of biologic and small molecule drug candidates acquired from Teva Pharmaceutical Industries, Ltd.
Led by seasoned biopharmaceutical executive Rohan Palekar, CEO, Dr. Michal Ayalon, head of R&D, Ram Waisbourd, COO and chief business officer, 89Bio is a biopharmaceutical company building a pipeline of biologic and small molecule treatments for liver and metabolic disorders. The company’s lead product candidate for the treatment of NASH is BIO89-100. Currently in Phase 1, BIO89-100 is a novel long-acting glycopegylated FGF21 analogue.
89Bio has R&D and operations in Herzliya, Israel.