Biotech Firm Backed by Blackstone Launches with $300M for Immune Drug

Uniquity Bio, a startup supported by Blackstone Life Sciences, is making its debut with a medicine prepared for Phase 2 clinical trials and up to $300 million from the private equity firm for development. The drug, named solrikitug, was initially developed by Merck and holds promise for treating various immune and inflammatory disorders, as announced by Blackstone. Solrikitug is a monoclonal antibody targeting the protein TSLP. By blocking this protein, it is believed to prevent the body’s inflammatory overreaction that can lead to conditions such as asthma.

Uniquity Bio plans to begin Phase 2 trials for solrikitug in asthma and chronic obstructive pulmonary disease (COPD) within the next month. The company has broader ambitions, aiming to address several respiratory and gastrointestinal conditions where there are substantial unmet medical needs, according to Blackstone's statement.

The protein TSLP has garnered attention from pharmaceutical companies seeking new methods to combat inflammation. Amgen and AstraZeneca were the first to enter this space, receiving approval from the Food and Drug Administration (FDA) in late 2021 for Tezspire, an asthma treatment administered via injection every four weeks.

In recent years, two startups focusing on TSLP-targeted drugs have attracted significant investor interest. Upstream Bio, which launched in 2022, raised additional funds in 2023 and announced the commencement of a Phase 2 clinical trial for severe asthma, testing the drug at 12-week and 24-week intervals. Another startup, Aiolos Bio, launched last year with $245 million in Series A financing, claimed to offer a TSLP drug requiring biannual administration. GSK acquired Aiolos Bio earlier this year with a $1 billion offer.

Blackstone’s investment in Uniquity Bio is part of its broader strategy to tap into the global immunology and inflammation market, which it projects could grow to $257 billion by 2032. Asthma, for instance, affects over 260 million people worldwide, according to the World Health Organization (WHO).

In recent years, Blackstone has diversified its investments in life sciences. Notably, it committed up to $750 million to Moderna for the development of influenza vaccines. Additionally, the private equity firm has been instrumental in launching new companies such as Anthos Therapeutics and AvenCell Therapeutics.

Uniquity Bio’s solrikitug aims to make a significant impact in the treatment of immune and inflammatory conditions by targeting TSLP. With the backing of Blackstone and the promising potential of solrikitug to address diseases with substantial unmet needs, Uniquity Bio is positioned to make significant strides in the healthcare sector.