HI-Bio Announces $95 Million Series B Financing to Advance Targeted Therapies for Immune-Mediated Diseases
Funding allows advancement of diverse programs through multiple clinical data readouts, including multiple indications for lead candidate felzartamab
SOUTH SAN FRANCISCO, Calif., Jan. 4, 2024 /PRNewswire/ -- Human Immunology Biosciences (HI-Bio™), a clinical-stage biotechnology company developing targeted therapies for patients with severe immune-mediated diseases (IMDs), today announced the closing of a $95 million Series B financing led by new investor Alpha Wave Global. Viking Global Investors and Arkin Bio Capital participated in the financing, as well as existing investors Jeito Capital and ARCH Venture Partners.
"These funds allow us to advance felzartamab, our clinically differentiated lead therapeutic candidate, through clinical readouts in multiple indications and preparation for registrational studies," said Travis Murdoch, M.D., CEO of HI-Bio. "We are encouraged by promising clinical data to date for felzartamab and its anti-CD38 cell depletion approach, and we look forward to new data, including Phase 2 results from an investigator-initiated trial for antibody-mediated rejection in kidney transplant patients."
Since the company's launch, HI-Bio has advanced felzartamab, a monoclonal antibody targeting CD38 and in-licensed from MorphoSys, across indications including antibody-mediated rejection (AMR), IgA nephropathy (IgAN), lupus nephritis (LN) and primary membranous nephropathy (PMN). Felzartamab has received Breakthrough Therapy Designation and Orphan Drug Designation from the U.S. Food and Drug Administration in PMN. HI-Bio has also initiated a clinical study of HIB210, an anti-C5aR1 candidate targeting neutrophil activation and chemotaxis.
"Immune-mediated diseases contribute to an immense disease burden which drives the need for novel targeted treatments to improve on existing therapies," said Chris Dimitropoulos, Managing Director of Healthcare Investments at Alpha Wave Global. "HI-Bio is generating compelling clinical data demonstrating the differentiated potential of felzartamab; we look forward to continued progress for felzartamab across multiple indications with high unmet need."
Funding from the Series B will be used to advance clinical development of felzartamab, to evaluate the clinical properties of HIB210 in healthy volunteers and to advance a discovery-stage program targeting mast cell dysfunction toward IND-enabling studies. In conjunction with the financing, the company announced that Chris Dimitropoulos, Managing Director of Healthcare Investments at Alpha Wave Global, has been appointed to the HI-Bio Board of Directors.
About HI-Bio
Human Immunology Biosciences, Inc. (HI-Bio™) is a clinical-stage biotechnology company focused on discovering and developing precision medicines for people suffering from immune-mediated diseases (IMDs). HI-Bio is leading clinical immunology into its next chapter by targeting cellular drivers of disease. To learn more about HI-Bio, visit us at www.hibio.com or follow us on LinkedIn and Twitter.
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Rich Allan FGS Global |
Caroline Fry FGS Global |
SOURCE HI-Bio
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