Monday, August 24, 2020

Connect Biopharma Finds $115M More

San Diego-based Connect Biopharma, which is developing biopharmaceuticals for treating atopic dermatitis and ulerative colitis, has raised $115M in a Series C funding, the company announced Monday morning. According to the company, the round was led by RA Capital Management, and also included Lilly Asia Ventures, Boxer Capital, and HBM Healthcare Investments, plus existing investor Qiming Venture Partners. Derek DiRocco, PhD, Principal at RA Capital Management, joins the company's board with the funding. The company said the new funding round will go to fund an ongoing Phase 2 clinical trial for CBP-201 in adult patients with moderate-to-severe atopic dermatitis (AD) and the ongoing Phase 2 trials of CBP-307 in patients with moderate-to-severe ulcerative colitis (UC); expand the CBP-201 clinical development program into additional indications; and manufacture clinical material to support future Phase 3 trials of CBP-201 and CBP-307. More information »