Inozyme Pharma Secures $67 Million Series A+ Financing to Advance INZ-701, a Novel Enzyme Replacement Therapy for Skeletal Mineralization Disorders

VCBeat (WeChat Official Account: vcbeat) learned from foreign media that on April 10, U.S. local time, biopharmaceutical company Inozyme Pharma completed a $67 million Series A+ financing round. The proceeds from this round will be used to advance the next stage of research and development for INZ-701, an enzyme replacement therapy for bone mineralization, designed to treat disorders of human skeletal mineralization.

It is reported that this round of financing was led by Pivotal bioVenture Partners and Sofinnova Investments. In addition, Inozyme Pharma has expanded its board of directors, with Sarah Bhagat, CEO of Sofinnova Investments, joining the board of Inozyme Pharma.

Inozyme Pharma, founded in 2017, has raised $116 million to date. The company will use this financing to bring its investigational enzyme replacement therapy, INZ-701, to market. INZ-701 is indicated for the treatment of severe mineralization disorders caused by ENPP1 enzyme deficiency, including generalized arterial calcification of infancy (GACI) and autosomal recessive hypophosphatemic rickets (ARHR).

Research by Inozyme Pharma has found that patients with rare genetic disorders exhibit lower-than-normal levels of PPi (pyrophosphate). This condition leads to excessive mineralization of soft tissues and insufficient bone mineralization, thereby causing damage to bones, arteries, and organs, and resulting in disease.

Currently, Inozyme Pharma is developing INZ-701, a drug designed to address the aforementioned issues. INZ-701 is an enzyme replacement therapy. Pyrophosphate (PPi) is naturally produced in the human body by the ENPP1 enzyme. When the body fails to produce ENPP1 or produces it at insufficient levels, PPi concentrations fall below normal, leading to various calcification disorders. INZ-701 acts as a substitute for ENPP1 to stimulate PPi production, helping restore PPi to normal levels and treating conditions such as excessive soft tissue calcification or impaired bone mineralization.

In addition, Inozyme Pharma plans to further develop INZ-701, targeting the improvement of genetic mutations in ABCC6 as its next stage of R&D. Similar to ENPP1 gene mutations, ABCC6 gene mutations lead to reduced levels of pyrophosphate (PPi), thereby causing calcification disorders and a condition known as pseudoxanthoma elasticum.

“Since the company’s inception, we have been dedicated to the research and development of INZ-701. Our goal is to develop a best-in-class therapy for patients with rare mineralization disorders,” said Axel Bolte, CEO and Co-founder of Inozyme Pharma. “Currently, we are planning the next phase of drug development, aiming to expand the therapeutic scope of the medication. This financing will support our ongoing development of novel drugs and enable more comprehensive clinical trials for INZ-701. We are grateful for the support from our new investors and remain committed to advancing research in bone mineralization therapeutics.”

Pivotal bioVenture Partners, established in 2017, is a biotechnology venture capital fund with approximately $300 million in assets under management. Pivotal bioVenture Partners focuses on investing in North American and European companies in the field of innovative medical products to meet growing healthcare demands. They invest across various stages of company development, from inception through mid- to late-stage clinical development. Their team possesses extensive experience in venture capital, company building, drug discovery, and development, collaborating with entrepreneurs to facilitate company growth.

Sofinnova Investments, established in 1974, is a clinical-stage biopharmaceutical investment firm managing approximately $1.8 billion in capital. Sofinnova Investments invests in pharmaceutical companies dedicated to the research and development of novel therapeutic solutions. The firm aims to improve patients’ lives by providing them with better medical care.

(Compiled by Liu Yujing)