logo-loader
viewArix Bioscience PLC

Arix Bioscience says company co-founded in 2018 completed Series A financing, bringing total committed funding to $50mln

It teamed up with US venture capital group Atlas Venture to create pre-clinical stage firm Quench Bio, which is working on the first anti-inflammatory and autoimmune drugs targeting a protein called Gasdermin D

Drugs
“This is at the cutting edge of contemporary drug development and a field of significant commercial interest by big pharma,” Arix said

Arix Bioscience PLC (LON:ARIX) said a company it co-founded in 2018 has emerged from “stealth mode” after completing a Series A financing, that brings total committed funding to $50mln.

It teamed up with US venture capital group Atlas Venture to create pre-clinical stage firm Quench Bio, which is working on the first anti-inflammatory and autoimmune drugs targeting a protein called Gasdermin D.

“This is at the cutting edge of contemporary drug development and a field of significant commercial interest by big pharma,” Arix said in a press release.

Arix and Atlas started Quench along with co-founders Mark Tebbe, its chief technology officer, and Mike Nolan, head of biology, together with Arturo Zychlinsky and Herbert Waldmann, both directors at The Max Planck Society.

It has married this technical expertise with an experienced leadership team, headed up by Samantha Truex, the former chief business officer of Padlock Therapeutics. Padlock was bought by Bristol Myers Squibb in 2016 in a deal worth up to US$600mln.

If the scientific and commercial building blocks are impressive, then so too are the notable backers of the Series A round.

Healthcare investor RA Capital helped lead the financing, while AbbVie Ventures, the strategic venture capital arm of the drugs giant of the same name, brings with it the industry heft.

AbbVie is the world leader in the inflammation space and owner of arthritis treatment Humira, the world’s biggest-selling drug.

Adam Houghton, head of AbbVie Ventures, and Josh Resnick, RA’s managing director, will join the board, alongside Arix’s investment director, Jonathan Tobin, and Atlas’ Bruce Booth.

“We are excited and privileged to work alongside such a distinguished team of entrepreneurs and co-investors to develop first-in-class medicines that could make a major difference to patients suffering from chronic inflammatory and auto-immune diseases,” said Jonathan Tobin.

In a podcast accompanying the announcement, the Arix investment director said targeting and inhibiting Gasdermin D in the way pioneered by Quench was a “completely new method of treating inflammatory disease”.

“It’s in an area the industry is extremely excited about,” he added.

Early-stage targets include lupus, vasculitis, multiple sclerosis, rheumatoid arthritis and chronic auto-immune diseases “where treatment options are limited”, said Tobin.

He added that the targets under development were at a “very early stage”. “[It is] pre-clinical, but we have an experienced team from industry that are pushing it forward to get a molecule we can test in humans.”

Quick facts: Arix Bioscience PLC

Price: 86.5 GBX

LSE:ARIX
Market: LSE
Market Cap: £117.25 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Arix Bioscience PLC named herein, including the promotion by the Company of Arix Bioscience PLC in any Content on the Site, the Company...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Aura Biosciences reports positive clinical data on its eye cancer treatment...

Aura Biosciences Inc CEO Elisabet de los Pinos tells Proactive Investors the biotech has reported positive clinical data from its Phase 1b/2 clinical trial evaluating the safety and efficacy of light- activated AU-011, its lead product candidate for the treatment of choroidal melanoma, a type...

on 11/06/2018

2 min read