Biotechnology company GlycoEra has closed an oversubscribed Series B financing round, raising $130m, to support the progression of its lead immunoglobulin G4 (IgG4)-targeted protein degrader through clinical proof-of-concept.
The investment will help in developing the company’s pipeline of precision extracellular degraders for immunology and other indications.
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Spearheaded by Novo Holdings, the financing round also saw contributions from new investors, including Catalio Capital Management, QIA and LifeArc Ventures.
Current investors Sofinnova Partners, Roche Ventures, Bristol Myers Squibb, and 5AM Ventures also participated in the round.
Joining the syndicate were Sixty Degree Capital, Agent Capital, and MP Healthcare Venture Management, Mitsubishi Tanabe Pharma’s subsidiary.
GlycoEra noted that its platform is capable of targeting a wide range of extracellular proteins, and the company’s bispecific degraders utilise a natural process to degrade proteins, offering a sustained removal of disease-causing proteins rapidly while eliminating systemic off-target effects.
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By GlobalDataThis method is said to contrast with traditional approaches, as the production of the company’s degraders takes place via a single-step recombinant process, providing scalability and modularity.
The company’s lead programme, GE8820, aims to degrade pathogenic IgG4 autoantibodies selectively, without causing immunosuppression.
GlycoEra CEO and president Ganesh Kaundinya said: “Our lead programme, which has demonstrated deep and rapid IgG4 degradation preclinically, presents an opportunity to deliver transformative therapies to patients suffering from multiple autoimmune diseases. With this financing, we plan to initiate first-in-human clinical trials for our lead programme later this year.
“This financing is a strong validation of our science and platform, allowing us to accelerate our lead program into clinical development while advancing our robust pipeline of precision immunology medicines.”
Furthermore, the company has added three new members to its board of directors: Max Klement, Matthew Hobson, Catalio Capital Management principal, and LifeArc Ventures partner Sohaib Mir, Partner.
GlycoEra is based in Switzerland and operates additional offices and labs in the US.
