Bitterroot Bio debuts with $145 million to develop cardio-immunology drugs
07 Jun 2023
AcquisitionImmunotherapyIPO
Bitterroot Bio emerged from stealth on Wednesday, backed by $145 million in Series A financing. The company, founded in 2021, is focused on harnessing immune modulation to treat cardiovascular disease, and says its lead programme BRB-002 targets the CD47/SIRPα pathway, which is designed to address the underlying dysfunction that contributes to atherosclerosis.
"The team's depth of experience as scientific pioneers, drug developers and accomplished biopharma leaders makes them an ideal partner for us," remarked board chairman Steve Gillis, managing director at ARCH Venture Partners, which co-led the funding round with Deerfield Management. Contributors also included GV, Koch Disruptive Technologies and Alexandria Venture Investments, among others.
Bitterroot highlights studies on its website that suggest blocking CD47 can enhance macrophage activity and reduce the formation of atherosclerotic plaques, and that the development of novel safe and effective anti-CD47 therapies could potentially help slow or prevent plaque formation.
According to Bitterroot, its approach is based on new advances in immunology, including the identification of novel targets and development of innovative protein-based treatments. "Cardiovascular disease represents an enormous global health burden, and there is a pressing need for safe and effective therapies," said president and CEO Pavan Cheruvu. He added that chief medical officer Craig Basson - who previously led cardiovascular drug development programmes at Novartis - is "well-positioned to lead our talented R&D team and advance Bitterroot's pipeline."
The company's founders include Nick Leeper, Irv Weissman, Lou Lange and the late John Martin, former CEO of Gilead Sciences who died in 2021. Leeper and Weissman previously founded the immuno-oncology biotech Forty Seven, which Gilead bought in 2020 for $4.9 billion. Forty Seven was focused on anti-CD47 antibodies for cancer treatment.
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