提供支持According to PRNewswire, Connect Biopharma ("Connect"), a clinical-stage biopharmaceutical company focused on identifying and developing potent and specific immune modulating molecules, today announced the completion of a $115 million Series C financing led by new investor RA Capital Management. Additional new investors Lilly Asia Ventures, Boxer Capital, and HBM Healthcare Investments joined existing investor Qiming Venture Partners in the financing.
The company also announced that, in conjunction with the financing, Derek DiRocco, PhD, Principal at RA Capital Management, is joining the Connect Biopharma Board of Directors.
Connect plans to use the proceeds of the Series C financing to support the ongoing Phase 2 clinical trial for CBP-201 in adult patients with moderate-to-severe atopic dermatitis (AD) and the ongoing Phase 2 trials of CBP-307 in patients with moderate-to-severe ulcerative colitis (UC); expand the CBP-201 clinical development program into additional indications; and manufacture clinical material to support future Phase 3 trials of CBP-201 and CBP-307. The company also expects to use a portion of the proceeds to advance additional preclinical programs into clinical development, including CBP-174, a small molecule in development for the treatment of pruritus.
Connect has achieved several important milestones in the first half of 2020, reporting positive topline data from the Phase 1b study of CBP-201 in patients with moderate-to-severe AD and initiating a Phase 2 trial in this indication. The company also enhanced its intellectual property estate for CBP-307, which has broad potential in multiple autoimmune diseases. The company expects to advance CBP-174, a small molecule intended for the treatment of pruritus, into Phase 1 clinical development in the fourth quarter of 2020.
Connect is a US and China-based clinical-stage biopharmaceutical company focused on discovery and development of novel immune modulators for the treatment of autoimmune diseases and inflammation, with the aim to improve the lives of patients in China and around the world by creating novel medicines with better efficacy and fewer side effects.
Connect's proprietary Immune Modulation Technology Platform is a high-throughput screening platform built on the biology of T cell function, and rapidly identifies molecules that target clinically validated disease pathways more efficiently than the traditional discovery approaches.
About RA Capital Management
RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare and life science companies that are developing drugs, medical devices, and diagnostics.
About Lilly Asia Ventures
Lilly Asia Ventures (LAV) is a leading biomedical venture capital firm established in 2008. Its vision is to become the trusted partner for exceptional entrepreneurs seeking smart capital and to build great companies developing breakthrough products that treat diseases and improve human health.
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