Q32 Bio, a Cambridge, Mass.-based biotechnology company developing biologic therapeutics to restore healthy immune regulation, closed a $60m Series B financing.
The round was co-led by OrbiMed Advisors and Acorn Bioventures with participation from Osage University Partners, Atlas Venture, Abingworth, Sanofi Ventures, University of Colorado and Children’s Hospital Colorado Center for Innovation. In conjunction with the financing, Isaac Manke (Acorn Bioventures) and Diyong Xu (OrbiMed Advisors) will join the Q32 Bio Board of Directors.
The company intends to use the funds to advance:
- ADX-914 through demonstration of proof-of-mechanism,
- its tissue-targeted complement regulation platform, and
- both its platform and pipeline.
Led by Michael Broxson, CEO, Q32 Bio is a clinical stage biotechnology company developing therapies targeting regulators of the innate and adaptive immune systems to re-balance immunity in severe autoimmune and inflammatory diseases. Its lead programs, focused on the IL-7R pathway and complement system, address immune dysregulation to help patients take back control of their lives.
The first-in-human trial for the company’s most advanced program, ADX-914, a fully human anti-IL-7R antibody, is designed to evaluate safety and tolerability and demonstrate proof-of-mechanism. IL-7 has been genetically and biologically validated to drive several T cell-mediated pathological processes in numerous autoimmune diseases.
Q32 Bio’s lead program for innate immunity, ADX-097, is a fusion protein generated by its complement platform and is expected to enter Phase 1 in the fourth quarter of 2021.