Immune Regulation Limited, a US and UK based clinical stage biotechnology company, closed a $40.6m Series B funding round.
The round was led by Morningside Ventures, alongside existing shareholders including London based 24Haymarket. The investment is structured in two tranches and includes an option for Morningside to invest further capital at a step up to the initial two tranches. In addition, Immune Regulation has raised £6m / $7.8m of advance subscription funds from private investors led by Metellus AG which has been applied to the issue of shares. Total aggregate funds equal £40.6m / $53.4m.
The company intends to use the funds to accelerate its efforts to develop drug product candidates that reset the immune system from a pro-inflammatory state to a balanced state, with the potential to achieve long term disease remission in autoimmune and allergic diseases.
Led by Jonathan Rigby, U.S. based Group CEO, Immune Regulation is a US and UK based clinical stage biotechnology company, pioneering new technologies for regulating and resetting the immune system and developing novel first-in-class therapies for inflammatory and immunological diseases. Its first-in-class immune resetting therapies, IRL201805 (‘1805) and IRL201104 (‘1104), have demonstrated unique efficacy and safety in pre-clinical and human studies without suppressing the immune system. These therapies exhibit short pharmacokinetic activity but reset the immune system from a pro-inflammatory to a regulatory state to induce disease remission in patients with allergic and immune mediated diseases, without the negative effects of chronic current therapies.