Aristea Therapeutics, a San Diego, CA-based clinical-stage immunology focused drug development company developing novel therapies to treat serious inflammatory orphan diseases, closed a $63m Series B financing.
The round was led by Fidelity Management & Research Company, with participation from existing investor Novo Holdings A/S and new investors Arena Pharmaceuticals and funds managed by Tekla Capital Management. In conjunction with the Series B financing, Loretta Tse, Ph.D., Vice President at Tekla Capital Management, LLC, will join Aristea’s Board of Directors, and Maurice Mezzino, Senior Vice President Corporate Development at Arena Pharmaceuticals, will join as a Board Observer. Both Dr. Tse’s and Mr. Mezzino’s expertise will lend critical guidance to Aristea.
The company intends to use the funds to continue the build-out of its leadership team, the formation of new partnerships and the advancement of the development of its portfolio of immunology focused programs to address orphan diseases.
A spin-out from AstraZeneca in 2018 with Novo Holdings A/S as the founding investor and led by James M. Mackay, Ph.D., President and CEO, Aristea Therapeutics (Air-iss-tay-uh) is a clinical-stage immunology focused drug development company developing novel therapies to treat serious inflammatory orphan diseases. The team is leveraging its industry expertise and proven success in drug development to form synergistic partnerships and build a pipeline of novel drugs. Aristea’s lead program, RIST4721, is currently in Phase 2b clinical development.
Separately, the company announced today a drug development collaboration and option to acquire agreement with Arena Pharmaceuticals to further advance the development of RIST4721.
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SOURCE Aristea Therapeutics