Verseau Therapeutics Secures $50 Million Financing to Advance Macrophage Checkpoint Modulator Pipeline

On October 31, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that biotechnology company Verseau Therapeutics (Verseau) announced the completion of a $50 million financing round (the specific round was not disclosed). Investors in this round included 20/20 HealthCare Partners, Alexandria Venture Investments, InHarv Partners, the Mark Foundation for Cancer Research, HHLR Capital, 3SBIO INC., and YONGHUA.

Verseau will use the funds from this financing round to expand its operations and develop novel immunotherapies, providing new treatment options for cancer patients.

Verseau, founded in 2017 and headquartered in Massachusetts, USA, is a biotechnology company. The company is dedicated to developing first-in-class therapies to provide new treatment options for patients with cancer, immune disorders, and inflammatory diseases. Verseau leverages its proprietary gene library to identify novel disease targets, thereby developing macrophage checkpoint modulators that harness synergistic immune mechanisms for cancer treatment.

Verseau’s lead drug candidate is a targeted agent against P-selectin glycoprotein ligand-1 (PSGL-1), an adhesion molecule that is highly expressed on most tumor-associated macrophages. Verseau leverages PSGL-1 to reprogram macrophages and develop anticancer immune agonists that activate relevant immune cells, thereby achieving therapeutic effects.

In addition, Verseau has obtained a patent license for siRNA lipid nanoparticle delivery technology. The company stated that, leveraging siRNA technology, the Verseau R&D team will accelerate the discovery and validation of novel macrophage targets and advance more macrophage checkpoint modulators into clinical trials.

Christine Bunt, CEO of Verseau Therapeutics, stated, “Macrophages are closely associated with the initiation and progression of tumors. Our macrophage checkpoint modulators can be used as monotherapy or in combination with other therapies to meet patients’ clinical needs.”

Previously, George Golumbeski, an executive at Celgene, was appointed Chairman of the Board of Directors of Verseau. He stated, “Verseau is dedicated to the study of myeloid cells and is poised to become a leader in the field of cancer immunotherapy. Clinical data indicate that macrophage-based therapies will represent a significant advancement in immunotherapy. We look forward to collaborating with the Verseau team to jointly advance the development of our drug candidates.”

20/20 HealthCare Partners, headquartered in Massachusetts, USA, is a global venture capital group that primarily provides funding for the innovative technology and life sciences industries.

3SBIO INC., established in 1993 and headquartered in Shenyang, Liaoning Province, is a biotechnology company. The company focuses on medical fields such as nephrology, oncology, inflammation, and infectious diseases, and is primarily engaged in the research and development, manufacturing, and distribution of biopharmaceuticals. Currently, 3SBIO INC. operates GMP-certified production facilities in Shenyang and employs more than 800 staff members.

Alexandria Venture Investments, established in 1996 and headquartered in California, USA, is a venture capital firm.

Honghui Capital, established in 2014 and headquartered in Nanjing, Jiangsu Province, is a venture capital firm. The company is dedicated to investing in the healthcare sector and promoting the sustainable development of the pharmaceutical industry.

InHarv Partners is a venture capital firm focused on the biotechnology industry.

The Mark Cancer Research Foundation, established in 2017, is a non-profit industry association focused on cancer. The organization primarily engages in venture philanthropy investments in companies, dedicated to improving prognoses for cancer patients through biological research and innovative technologies.

YONGHUA, established in 1994 and headquartered in Shanghai, China, is a venture capital firm. The company focuses on multiple sectors, including new energy, environmental protection, biopharmaceuticals, TMT, and agriculture, with total investments exceeding RMB 6 billion.

(Compiled by Xu Xiaoxue)