Star Therapeutics has completed a Series D funding round, raising $125m aimed at supporting its pipeline progression.
The oversubscribed round was jointly headed by Viking Global Investors and Sanofi Ventures, with additional funds coming from a mix of new and existing investors.
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Among the new participants were Frazier Life Sciences, GordonMD Global Investments and Janus Henderson Investors.
The capital infusion is earmarked for the progression of Star’s monoclonal antibody, VGA039, aimed at Protein S to recalibrate the blood clotting process.
This therapy is poised to become a universal treatment for a spectrum of bleeding disorders, with an initial focus on von Willebrand disease (VWD).
The company has launched a Phase III study of VGA039, targeting all types of VWD.
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By GlobalDataThe trial will assess the therapy when administered as a monthly subcutaneous injection.
As a self-administered antibody therapy, the monthly dosing schedule will ease the treatment regimen for patients.
The therapy has gained orphan drug and fast track designations from the US Food and Drug Administration (FDA).
In alignment with the funding round, Sanofi Ventures’ Jason Hafler will join Star’s board of directors, while Viking Global Investors’ Maneka Mirchandaney will assume the role of board observer.
Star Therapeutics founder and CEO Adam Rosenthal stated: “We’re making significant progress across our pipeline, highlighted by the recent initiation of our Phase III trial of VGA039 to prevent bleeding in people with all types of VWD, the most common inherited bleeding disorder, with more than 50,000 patients diagnosed and treated in the US.
“VGA039 has the potential to be transformative for VWD patients and could meaningfully reduce the treatment burden, given its once monthly subcutaneous dosing regimen, in comparison to factor replacement prophylaxis which requires two to three IV infusions per week.”
