Boston Immune Technologies and Therapeutics, Inc. (BITT), a Boston, MA based developer of novel TNF Superfamily antagonist antibodies, completed a $10M Series A/A1 financing.
Investors included BeiGene, Ltd., along with undisclosed private investors and prior investors Hatteras Venture Partners and EGP Investments.
The company intends to use the funds for the clinical development of BIR2101, a novel, TNFR2 antagonist antibody for indications in oncology and infectious disease and additional pipeline candidates. The company also announced that Lusong Luo, Ph.D., Senior Vice President of External Innovation at BeiGene and Joseph McMahon, CEO of Bioventure Partners, will be joining BITT’s board of directors.
Led by Russell LaMontagne, Co-founder and Chief Executive Officer, BITT is developing a novel class of antagonist antibodies targeting the TNF superfamily receptors for applications in oncology, inflammation, autoimmunity, and infectious disease. BITT is initiating clinical trials for BIR2101, its lead candidate, a monoclonal antibody that targets tumor necrosis factor receptor 2 (TNFR2). The company is also developing additional TNF superfamily antibodies including CD40 antagonists for inflammation and CD30 antagonists for oncology.