Zenas BioPharma Secures $200M Series C for Advanced Immunology Development

Zenas BioPharma, a biopharmaceutical company focused on inflammation and immunology therapies, has closed a $200 million Series C preferred stock financing round. The financing was led by SR One, NEA, Norwest Venture Partners, and Delos Capital, with notable contributions from Enavate Sciences and Longitude Capital. Additional investments came from new investors such as Federated Hermes Kaufmann Funds and Arrowmark Partners, as well as existing investors including Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, Vivo Capital, Quan Venture Fund, and Superstring Capital.

The funds will be used to support the clinical development of Zenas BioPharma's lead product candidate, obexelimab. This bifunctional monoclonal antibody targets both CD19 and FcγRIIb to inhibit B cell activity, plasmablasts, and CD19-expressing plasma cells. Obexelimab is currently undergoing a Phase 3 trial for IgG4-Related Disease, with additional Phase 2 trials planned for Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing Phase 2 trial for Warm Autoimmune Hemolytic Anemia.

With the new financing, Jake Nunn from SR One and Tim Xiao from Delos Capital have joined Zenas’ Board of Directors.

Lonnie Moulder, Founder and CEO of Zenas BioPharma, expressed gratitude for the support from the life sciences investors, emphasizing the company’s vision to become a global leader in immunology-based therapies. He highlighted that the financing would allow Zenas to advance multiple clinical programs with significant potential value.

Jake Nunn from SR One remarked on the importance of supporting Zenas’ goal of leading in innovative immunology-based therapies. He expressed confidence in the Zenas team’s ability to advance obexelimab’s development across various potential indications and highlighted the firm’s commitment to investing in transformative biotech companies.

Obexelimab has shown promising results in clinical trials, demonstrating inhibition of B cell function without depleting the cells, and has been well-tolerated among 198 subjects across various autoimmune diseases. Zenas acquired exclusive worldwide rights to obexelimab from Xencor, Inc. Current studies for obexelimab include a global Phase 3 clinical study for IgG4-Related Disease and a global Phase 2/3 study for Warm Autoimmune Hemolytic Anemia. Development for Multiple Sclerosis and Systemic Lupus Erythematosus is also in progress.

Zenas BioPharma is a clinical-stage global biopharmaceutical company dedicated to developing and commercializing therapies for inflammation and immunology. They aim to address high unmet medical needs in autoimmune diseases through their portfolio of potentially differentiated therapeutics. Zenas’ leadership and partnerships emphasize operational excellence in delivering transformative therapies for patients worldwide.

SR One, a biotechnology venture capital firm, collaborates with entrepreneurs to build leading biotech companies. They aim to translate scientific discoveries into next-generation medicines. SR One has offices in Redwood City, Philadelphia, and London.

NEA is a global venture capital firm that invests in technology and healthcare companies at all stages. With over $25 billion in assets, they have a long history of successful investments including numerous IPOs and acquisitions.

Norwest Venture Partners manages over $15.5 billion in capital, investing in early- to late-stage businesses across various sectors including healthcare. They offer extensive support to help companies scale.

Delos Capital focuses on life sciences investments, partnering with teams developing breakthrough medicines. They support companies with both capital and biotech expertise, operating from offices in Cambridge and East Asia.