Little-known startup secures $60M China I&I deal with Foresite and Samsara backing

Vignette Bio, a nascent biotech company supported by Foresite Capital and Samsara BioCapital, has made a significant move in the biopharmaceutical industry by securing the rights to an experimental immunology and inflammation (I&I) drug from China. The company, which is still in stealth mode and maintains a private website, has entered into a licensing agreement worth $60 million upfront to obtain the rights to the drug outside of China, Macau, Hong Kong, and Taiwan. This deal, announced on Wednesday, also includes potential milestone payments that could total up to $575 million.

The drug in question, EMB-06, is a bispecific T cell engager targeting BCMA and binding to CD3. According to Vignette's press release, the company plans to advance this program and other related initiatives focused on autoimmune diseases. Michael Rome, managing director at Foresite, emphasized this strategic direction in the announcement. Chengbin Wu, CEO of EpimAb Biotherapeutics, highlighted that EMB-06 has undergone testing for multiple myeloma, presenting a promising avenue for further development.

Despite the recent announcement, information about Vignette Bio remains sparse. The press release notes that the company was established in 2024 with the mission to tackle diseases related to immunology and inflammation. However, their website is currently marked with a simple "Coming soon" message, indicating that more details about the company and its projects are yet to be unveiled.

The acquisition of EMB-06 by Vignette Bio is part of a broader trend of increased activity within immunology-focused biotech firms this year. For instance, Mirador and AltruBio have secured significant funding rounds of $400 million and $225 million, respectively. Additionally, a spinout from Paragon Therapeutics has engaged in a reverse merger, accompanied by $275 million in private financing. Furthermore, Blackstone has been instrumental in launching Uniquity Bio with an initial investment of $300 million.

Both Foresite Capital and Samsara BioCapital have been actively contributing to this dynamic environment. Earlier this year, they collaborated on a $259 million Series C funding round for Alumis, a company formerly known as Esker Therapeutics. Shortly after this substantial financing effort, Alumis transitioned to a public entity. In another notable development, Foresite concluded a $900 million life sciences fund in June, marking one of the largest biotech funds closed this year.

The move by Vignette Bio to license EMB-06 underscores the high stakes and significant potential in the realm of immunology and inflammation treatments. As the company progresses, it will likely reveal more about its strategies and specific plans for developing this promising drug candidate. The biotech sector, particularly firms focused on immunological disorders, continues to evolve rapidly, driven by substantial financial backing and a strong pipeline of innovative treatments.

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