AusperBio Secures $37 Million in Series A Financing to Advance AHB-137 Clinical Development for HBV Cure
SAN FRANCISCO, July 14, 2024 /PRNewswire/ -- AusperBio Therapeutics, Inc. and Ausper Biopharma Co., Ltd. (collectively AusperBio), a privately held clinical-stage biotechnology company dedicated to advancing targeted oligonucleotide therapies, with the goal of achieving functional cure for chronic hepatitis B (CHB) infection, today announced the completion of a $37 million Series A financing round. This round was led by existing investor, InnoPinnacle Fund, with participation from new investors including Yuanbio Venture Capital, Qiming Venture Partners, Hankang Capital, and Genesis Capital.
The proceeds from the financing will further support the clinical development of AHB-137, AusperBio's lead product candidate. Additionally, the funds will advance its proprietary Med-Oligo™ technology platform and its product pipelines.
Dr. Guofeng Cheng, co-founder and CEO of AusperBio, commented: "We are immensely grateful for the continued support from our existing investors and are very pleased to welcome new investors to the company. This financing round represents a significant milestone that recognizes our scientific and clinical achievements to date. The shared commitment from our investors to developing new therapeutics for CHB patients is truly inspiring. With this funding, together with the recent Breakthrough Therapy Designation (BTD) from China's CDE, we are well-positioned to rapidly advance the clinical development of AHB-137 and move closer to providing a vital new treatment option for patients with CHB."
About AHB-137
AHB-137, a novel unconjugated antisense oligonucleotide (ASO) developed within AusperBio's proprietary Med-Oligo™ ASO technology platform, was designed to treat chronic hepatitis B for a functional cure. Its compelling preclinical and Phase 1 clinical data was highlighted at the 2023 EASL™ conference and the 2024 EASL™ conference, respectively. This novel dual-mechanism ASO is presently undergoing a Phase 1b trial across multiple international study sites and a concurrent Phase 2 trial in China. Through a global development strategy, AHB-137 is advancing rapidly towards the goal of HBV cure.
About AusperBio.
AusperBio is a clinical-stage biopharmaceutical company with operations in the USA and China, dedicated to advancing oligonucleotide and targeted delivery technologies for transformative therapies, with an initial focus on curing chronic hepatitis B infection. The company has developed a proprietary Med-Oligo™ ASO platform which has been shown to substantially enhance the current ASO therapeutics, through novel insights into ASO design. Combining with efficient targeted delivery conjugation technologies, the modular Med-Oligo™ Platform empowers ASO therapeutics to treat a broad range of diseases, including viral infections, metabolic conditions, genetic disorders, and immune diseases.
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SOURCE AusperBio Therapeutics Inc.
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