Granite Secures $100M to Compete in I&I Market

Granite Bio, a new biotechnology company based in Basel, Switzerland, has entered the field of immunology and inflammation with a robust financial backing and a focused mission to develop innovative treatments for autoimmune disorders. The company has recently secured $100 million in funding and aims to make strides in addressing autoimmune diseases through two promising antibody therapies.

Granite's foundation is supported by notable investors, including Versant Ventures and the Novartis Venture Fund, which played significant roles in its initial $30 million Series A funding. Further financial support came from life sciences-focused venture capital firm Forbion and Sanofi Ventures, which contributed to a Series B financing round, raising an additional $70 million.

Central to Granite's research and development efforts are two potentially groundbreaking antibody therapies. The first, GRT-001, is designed to combat autoimmunity and inflammation by specifically targeting and depleting monocytes. These cells are key players in the body's inflammatory response. Prior studies have suggested that GRT-001 is both safe and well-tolerated, effectively reducing pro-inflammatory monocytes without affecting tissue-resident macrophages, which are essential for maintaining tissue homeostasis. Granite is currently conducting a Phase Ia trial with healthy volunteers and plans to proceed to a Phase Ib trial for inflammatory bowel disease later this year.

The second lead asset, GRT-002, targets the IL-3 cytokine, which is implicated in autoimmune and type II inflammatory responses. Although still in the preclinical phase, Granite intends to explore GRT-002 for treating itch-related conditions and allergies, with clinical trials scheduled for 2026.

Granite Bio is pioneering a fresh approach to treating inflammation, autoimmunity, and fibrosis by focusing on the root causes of these diseases. Patrick Loustau, Granite’s President and CEO, emphasized this innovative direction in a recent statement. The company's leadership team includes well-experienced professionals such as Chief Medical Officer Dominik Hartl, who has previously worked with pharmaceutical giants Novartis and Roche, and Chief Scientific Officer Gijs van den Brink, an alum of Roche and GSK.

In the broader biotech startup landscape, Granite is among several companies that have launched this year. Earlier in January, Helicore, another company backed by Versant Ventures, launched with $65 million in Series A funding to tackle the obesity market. Helicore is advancing HCR-188, a monoclonal antibody targeting GIP, which is expected to begin clinical trials and provide initial results this year.

Similarly, Verdiva Bio entered the market in January with a substantial starting capital of $411 million, supported by Forbion, Lilly Asia Ventures, among others, to focus on obesity treatments. Ouro Medicines, backed by GSK, is also looking to make its mark in the immunology field with a range of T cell engager therapies for chronic illnesses.

Additionally, Flagship Pioneering's latest venture, Etiome, emerged on the same day as Granite Bio. Etiome plans to use its AI-driven discovery platform to address diseases at their inception, aiming to halt progression before it becomes critical. This project is starting with an initial capital of $50 million.

Granite Bio stands out in this competitive field by concentrating on novel antibody therapies that target key mechanisms in autoimmune and inflammatory diseases, potentially offering new hope for patients suffering from these challenging conditions.