Upstream Bio, a Waltham, Mass.-based biotech company focused on inflammation, raised $200 million in Series A financing.
The Series A round was led jointly by OrbiMed and Maruho Co., Ltd. with participation from Access Biotechnology, Decheng Capital, HBM Healthcare Investments, TCG X, Omega Funds, Samsara BioCapital, and Altshuler Shaham Provident Funds Ltd.
The company intends to use the funds to advance its lead program UPB-101, a clinical-stage monoclonal antibody targeting the TSLP receptor, and build a pipeline of assets to address immune-mediated diseases.
Led by Samantha Truex, Chief Executive Officer, and Aaron Deykin, MD, Chief Medical Officer and Head of Research and Development, Upstream Bio acquired UPB-101 from Astellas following the completion of initial clinical and preclinical studies. Upstream has selected asthma as the first indication for UPB-101 with plans to pursue additional diseases driven by TSLP-mediated inflammation. Inhibiting TSLP signaling is a validated mechanism. Stimulated by allergens, viruses, and other triggers, release of TSLP is at the top of the inflammatory cascade and a key driver of inflammatory response in major allergic and inflammatory diseases, including asthma. TSLP signaling occurs upstream of other validated targets such as IL-4, IL-5, IL-13, IL-17 and IgE.