Zenas BioPharma Secures Impressive $200 Million in Series C Funding to Propel Immunology-Focused Clinical Development Programs
May 10, 2024, 9:44 pm
Location: United States, Massachusetts, Waltham
Employees: 11-50
Total raised: $318M
Zenas BioPharma, a renowned global biopharmaceutical company based in Waltham, Massachusetts, recently announced the successful closure of an upsized $200 million Series C financing round. This significant funding was led by esteemed investors including SR One, NEA, Norwest Venture Partners, and Delos Capital, with substantial participation from Enavate Sciences, Longitude Capital, the Federated Hermes Kaufmann Funds, and Arrowmark Partners, as well as existing investors such as Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, Vivo Capital, Quan Venture Fund, and Superstring Capital.
The primary objective of this substantial funding injection is to support the ongoing mid- to late-stage clinical development programs for Zenas BioPharma's lead product candidate, obexelimab. This innovative bifunctional monoclonal antibody is specifically designed to target and inhibit the activity of B cells, plasmablasts, and CD19-expressing plasma cells in various autoimmune diseases. The company's robust pipeline includes an ongoing Phase 3 registration-directed trial in IgG4-Related Disease, two planned Phase 2 randomized controlled trials in Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing open label Phase 2 trial in Warm Autoimmune Hemolytic Anemia.
Under the visionary leadership of Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma, the company is dedicated to becoming a global leader in the development and commercialization of inflammation and immunology-directed therapies. With a strong emphasis on addressing unmet medical needs in the realm of autoimmune diseases, Zenas BioPharma is committed to advancing a portfolio of potentially transformative autoimmune therapeutics.
In response to the successful funding round, Lonnie Moulder expressed gratitude for the unwavering support from the group of esteemed life sciences investors. He emphasized the company's dedication to advancing the obexelimab development program across multiple autoimmune diseases, highlighting the potential to significantly impact patient care and improve outcomes for individuals facing these challenging conditions.
With a focus on innovative immunology-based therapies and a comprehensive development program for obexelimab, Zenas BioPharma is well-positioned to make a meaningful difference in the lives of patients worldwide. The company's strategic partnerships, experienced leadership team, and commitment to operational excellence underscore its mission to deliver transformative therapies for individuals grappling with autoimmune and rare diseases.
As Zenas BioPharma continues to make strides in the field of immunology and inflammation-directed therapies, the successful closure of the Series C financing round serves as a testament to the company's vision, dedication, and potential to redefine the landscape of autoimmune disease treatment.
The primary objective of this substantial funding injection is to support the ongoing mid- to late-stage clinical development programs for Zenas BioPharma's lead product candidate, obexelimab. This innovative bifunctional monoclonal antibody is specifically designed to target and inhibit the activity of B cells, plasmablasts, and CD19-expressing plasma cells in various autoimmune diseases. The company's robust pipeline includes an ongoing Phase 3 registration-directed trial in IgG4-Related Disease, two planned Phase 2 randomized controlled trials in Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing open label Phase 2 trial in Warm Autoimmune Hemolytic Anemia.
Under the visionary leadership of Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma, the company is dedicated to becoming a global leader in the development and commercialization of inflammation and immunology-directed therapies. With a strong emphasis on addressing unmet medical needs in the realm of autoimmune diseases, Zenas BioPharma is committed to advancing a portfolio of potentially transformative autoimmune therapeutics.
In response to the successful funding round, Lonnie Moulder expressed gratitude for the unwavering support from the group of esteemed life sciences investors. He emphasized the company's dedication to advancing the obexelimab development program across multiple autoimmune diseases, highlighting the potential to significantly impact patient care and improve outcomes for individuals facing these challenging conditions.
With a focus on innovative immunology-based therapies and a comprehensive development program for obexelimab, Zenas BioPharma is well-positioned to make a meaningful difference in the lives of patients worldwide. The company's strategic partnerships, experienced leadership team, and commitment to operational excellence underscore its mission to deliver transformative therapies for individuals grappling with autoimmune and rare diseases.
As Zenas BioPharma continues to make strides in the field of immunology and inflammation-directed therapies, the successful closure of the Series C financing round serves as a testament to the company's vision, dedication, and potential to redefine the landscape of autoimmune disease treatment.