On February 12, Newton, Massachusetts-based clinical-stage biotechnology company Abcuro announced the completion of a $200 million Series C financing round led by New Enterprise Associates (NEA). Foresite Capital participated in this round, with existing investors including RA Capital Management, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures, New Leaf Ventures, funds managed by abrdn, BlackRock, Eurofarma Ventures, and Soleus Capital also joining the investment.
The proceeds from the Series C financing will be used to complete the Phase 2/3 clinical trial for muscular registration, assessingulviprubart(ABC008), a first-in-class monoclonal antibody targeting killer cell lectin-like receptor G1 (KLRG1), for the treatment of inclusion body myositis (IBM). Assuming positive results from the muscular clinical trial, Abcuro plans to submit a BLA and allocate part of the proceeds to support commercialization preparations.In 2019, Steven Greenberg, MD, a neurologist at Brigham and Women's Hospital and founder of Abcuro, co-authored a paper indicating a link between T cells expressing KLRG1 and IBM.This prompted Mass General Brigham Ventures to partner with Sanofi Ventures in 2021 to complete a Series A-1 financing round based on Greenberg's research.AbcuroSubsequently, in 2023, it completed a $155 million Series B financing round. (New Sharp! $155 Million Series B Financing to Develop KLRG1 Antibody）
Abcuro CEO Alex Martin stated:"In the latest round of financing, the continued support from all our investors confirms our vision, which isulviprubartMay serve as a new treatment method for progressive and devastating diseases mediated by highly cytotoxic T cells, including inclusion body myositis. We have the capability to execute our clinical development plan, including inInclusion Body Myositis (IBM)Complete the ongoing ulviprobart Phase 2/3 muscle clinical trial and expect to report preliminary data in the first half of 2026. We will also seek to fund expanded manufacturing capacity and other pre-commercial activities this year."NEA Partner Dr. Michele Park said:"Abcuro represents an exciting opportunity, with its lead candidate drugulviprubartIt is a potentially first-class therapy that may have a significant impact on the treatment paradigm for IBM, an indication with substantial unmet clinical needs.Ulviprubart"Targeting a unique mechanism that can selectively deplete cytotoxic T cells, supported by encouraging clinical and preclinical data presented to date."Follow the official account below to see the world!
