KUALA LUMPUR, May 9 (Bernama) -- Zenas BioPharma, a global biopharmaceutical company has announced the closing of an upsized US$200 million Series C preferred stock financing. (US$1=RM4.74)
In a statement, the company said the financing round was led by SR One along with NEA, Norwest Venture Partners, and Delos Capital with significant participation from Enavate Sciences and Longitude Capital.
Proceeds will support ongoing mid- to late-stage clinical development programmes for the company’s lead product candidate, obexelimab, a bifunctional monoclonal antibody being developed to treat various autoimmune diseases.
The obexelimab clinical programmes include an ongoing Phase 3 registration-directed trial in IgG4-Related Disease, two planned Phase 2 randomised controlled trials in Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing open label Phase 2 trial in Warm Autoimmune Hemolytic Anemia.
“We are pleased and appreciative of the support we have received from this group of tremendous life sciences investors as we advance the ongoing obexelimab development programme across multiple auto-immune diseases.
“This financing enables us to complete multiple potentially value driving clinical programmes,” said Zenas BioPharma Founder and Chief Executive Officer, Lonnie Moulder.
Additional new investors, the Federated Hermes Kaufmann Funds, and Arrowmark Partners, along with existing investors, Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, Vivo Capital, Quan Venture Fund, and Superstring Capital participated in the financing.
In conjunction with the financing, SR One venture partner, Jake Nunn and Delos Capital Partner, Tim Xiao joined Zenas’ Board of Directors.
Zenas BioPharma committed to becoming a leader in the development and commercialisation of inflammation and immunology-directed therapies, aims to improve the lives of those facing autoimmune and rare diseases.
-- BERNAMA
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