Stablix Therapeutics Raises $63M in Series A Funding

Stablix Therapeutics, a New York based biotechnology company which specializes in Targeted Protein Stabilization (TPS), raised $63M in Series A funding.

The round was led by Versant Ventures with participation from NEA, Cormorant, Euclidean Capital and Alexandria Real Estate Equities.

The company intends to use the funds to build out its platform and advance a portfolio of protein stabilizers towards the clinic.

Led by Carlo Rizzuto, Ph.D., acting CEO (and partner at Versant), Stablix Therapeutics is a biotechnology company pioneering the field of Targeted Protein Stabilization (TPS). The company’s RESTORED platform generates heterobifunctional small molecules (RESTORACS) that recruit deubiquitinase enzymes to remove ubiquitin from targeted proteins and consequently stabilize or increase target protein levels and activity. Stablix initially is leveraging the platform to develop programs to treat rare diseases, cancer and immunological disorders.

The Stablix platform originated in the laboratory of Henry Colecraft, Ph.D., John C. Dalton Professor of Physiology and Cellular Biophysics at Columbia University. The co-founders are Dr. Colecraft and Scott Kanner, Ph.D..

In addition, the company has established a lab facility in New York City.