Asher Bio, a San Francisco, CA-based biotechnology company developing precisely-targeted immunotherapies for cancer, autoimmune, and infectious diseases, raised $55M in Series C funding.
The round was led by RA Capital Management, and included new investors AstraZeneca (LSE/STO/Nasdaq: AZN) and Bristol Myers Squibb, along with existing investors Janus Henderson Investors, Third Rock Ventures, Wellington Management and Boxer Capital and other undisclosed investors.
The company intends to use the funds to advance the clinical development of its lead program, AB248, a novel CD8+ T cell selective IL-2, generated by fusing a reduced potency IL-2 mutein to an anti-CD8β antibody.
Led by Craig Gibbs, Ph.D., Chief Executive Officer, Asher Bio is a biotechnology company developing therapies to precisely engage specific immune cells to fight cancer, chronic viral infection and autoimmune disease. Its proprietary cis-targeting platform develops therapies engineered to overcome limitations of other immune-based treatments by selectively activating specific immune cell types with validated disease fighting functionality. Its candidates feature an antibody connected to a modified immunomodulatory protein, such as a cytokine and design is intended to activate the desired immune cells that contribute to toxicity or immune suppression. Its lead program AB248, an investigational IL-2 molecule specifically targeted to CD8+ effector T cells, is currently being investigated in a Phase 1a/1b study, as a monotherapy and in combination with KEYTRUDA® (pembrolizumab), in patients with recurrent locally advanced or metastatic solid tumors, including melanoma, renal cell carcinoma (RCC), non-small cell lung cancer (NSCLC) and squamous cell carcinoma of the head and neck (SCCHN), previously treated with a PD1 or PD-L1 checkpoint inhibitor.
FinSMEs
17/04/2024