Genzyme Corp.

NEWTON, MA, USA I February 12, 2025 I Abcuro, Inc., a clinical-stage biotechnology company developing therapies for the treatment of autoimmune diseases and cancer through precise modulation of cytotoxic T cells, today announced the closing of a $200 million Series C financing led by New Enterprise Associates (NEA) with Foresite Capital joining the round and participation of existing investors including RA Capital Management, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures, New Leaf Ventures, funds managed by abrdn Inc., funds and accounts managed by BlackRock, Eurofarma Ventures, and Soleus Capital. Proceeds from the Series C financing will be used to complete the registrational Phase 2/3 MUSCLE clinical trial evaluating ulviprubart (ABC008), a first-in-class monoclonal antibody targeting killer cell lectin like receptor G1 (KLRG1), for the treatment of inclusion body myositis (IBM). Assuming positive results from the MUSCLE clinical trial, Abcuro plans to file a BLA and will use a portion of the proceeds to support commercial launch preparation. “Continued support from all of our investors in this latest financing round validates our vision for the potential that ulviprubart may have as a novel treatment for progressive and devastating diseases mediated by highly cytotoxic T cells, including Inclusion Body Myositis” said Alex Martin, Chief Executive Officer of Abcuro. “We are in a strong position to execute on our clinical development plan, including completing our ongoing, registrational Phase 2/3 MUSCLE clinical trial of ulviprubart in IBM, and expect to report initial data in the first half of 2026. We will also look to fund the expansion of manufacturing capabilities and other pre-commercial activities this year.” “Abcuro represents an exciting opportunity with its lead candidate, ulviprubart, a potential first-in-class therapy that could make a big impact to the treatment paradigm of IBM, an indication with a significant unmet clinical need,” said Michele Park, PhD, Partner at NEA. “Ulviprubart targets a unique mechanism that can selectively deplete cytotoxic T cells, backed by encouraging clinical and preclinical data that have been presented to date.” About Ulviprubart Ulviprubart (ABC008) is a first-in-class anti-KLRG1 antibody product candidate capable of selectively depleting highly cytotoxic T cells, while sparing naïve, regulatory and central memory T cells. Ulviprubart is designed to treat diseases mediated by highly cytotoxic T cells, including the autoimmune muscle disease inclusion body myositis (IBM) and T cell large granular lymphocytic leukemia (T-LGLL). The US Food and Drug Administration (FDA) and the European Medicines Agency (EMA) have each granted orphan drug designation to ulviprubart for the treatment of IBM. About Inclusion Body Myositis (IBM) IBM is an autoimmune disease in which highly cytotoxic T cells chronically attack muscle tissue leading to progressive weakness and limb muscle atrophy. Patients progressively lose muscle function, including loss of grip, dexterity and mobility. There are currently no available disease-modifying treatment options for IBM. Based on published epidemiology literature, it is estimated that there are more than 50,000 people with IBM across the US and Europe. About Abcuro Abcuro is a clinical stage biotechnology company developing first-in-class immunotherapies for the treatment of autoimmune diseases and cancer through precise modulation of highly cytotoxic T cells. The company’s lead program is ulviprubart (ABC008) and is currently in clinical trials for inclusion body myositis (IBM) and T cell large granular lymphocytic leukemia. For more information, visit us on LinkedIn and at abcuro.com . SOURCE: Abcuro

Abcuro is earmarking a portion of new series C funds to prepare for a potential commercial launch of ulviprubart.\n Sanofi-backed Abcuro has secured $200 million in series C funds to power its anti-KLRG1 antibody through a phase 2/3 muscle disease trial ahead of a planned push to regulators.Abcuro is targeting KLRG1 to drive the depletion of cytotoxic T cells in autoimmune diseases. While other players in the space are targeting CD25, CD2, CD52 and ICOS with the same goal in mind, Abcuro has been betting on KLRG1 because expression is restricted to highly cytotoxic late-differentiated effector memory and effector T cells.The idea is that its anti-KLRG1 antibody ulviprubart, also known as ABC008, will deplete cells that drive autoimmune disease without affecting regulatory T cells and central memory T cells.Ulviprubart is currently in a phase 2/3 trial for inclusion body myositis (IBM), a muscle wasting disease that affects about 50,000 people across the U.S. and Europe. Abcuro has a lot riding on the study, with plans to file an approval application with the FDA if the study is a success when it reads out in the first half of 2026.To that end, the biotech is also earmarking a portion of the series C funds to prepare for a potential commercial launch of ulviprubart. Some more of the cash will be spent on expanding the company’s manufacturing capabilities.  The financing round was led by New Enterprise Associates, with new investor Foresite Capital joining a list of previous backers like Sanofi Ventures, RA Capital, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Pontifax, Mass General Brigham Ventures, New Leaf Ventures and funds and accounts managed by BlackRock, to name a few.“Continued support from all of our investors in this latest financing round validates our vision for the potential that ulviprubart may have as a novel treatment for progressive and devastating diseases mediated by highly cytotoxic T cells, including inclusion body myositis,” Abcuro CEO Alex Martin said in a Feb. 12 release.IBM looks like a good proving ground for ulviprubart’s potential. The disease is driven by T-cell attacks on muscle fibers that lead to loss of hand function and ability to walk. In 2019, Steven Greenberg, M.D., a neurologist at Brigham and Women’s Hospital and Abcuro founder, co-authored a paper that pointed to a link between KLRG1-expressing T cells and IBM.It led Mass General Brigham Ventures to team up with Sanofi Ventures to oversee a series A-1 round back in 2021 to build on Greenberg’s research. The biotech followed this up with a $155 million series B in 2023.As well as the later-stage study in IBM, the company is also overseeing a phase 1/2 clinical trial of ulviprubart in T-cell large granular lymphocytic leukemia.

Lilly gained a connection to AdvanCell when it bought Point Biopharma. \n Eli Lilly has begun the week with a bang. Early Monday morning, AdvanCell and OliX Pharmaceuticals put out news that the Big Pharma is coughing up cash to work with them on radiopharmaceuticals and metabolic-associated steatohepatitis (MASH), respectively.The deal with OliX gives Lilly global rights to OLX75016, a siRNA candidate that targets the expression of the MARC1 enzyme. OliX selected the target after looking at genomic variants linked to MASH and other liver diseases. The Korean biotech is running a phase 1 trial of the candidate in healthy volunteers, and Lilly will pay for OliX to complete the study.Striking the global licensing agreement moves Lilly deeper into siRNA and MASH. The drugmaker showed its interest in siRNA and related modalities last year by opening a $700 million nucleic acid R&D center in the Boston Seaport.Tirzepatide, the GLP-1 drug in Mounjaro and Zepbound, is Lilly’s highest-profile MASH candidate. Lilly reported phase 2 MASH data in June and later outlined its attempts to find biomarkers that can support accelerated FDA approvals in the liver disease. The company’s early-phase pipeline, which includes siRNA inhibitors of SCAP and PNPLA3, could benefit from the investments. Lilly gained a connection to AdvanCell, an Australian radiopharmaceutical company when it bought Point Biopharma for $1.4 billion in 2023. Point partnered with AdvanCell earlier that year, securing a chance to collaborate on the development of lead-212-labeled radioligands. The new deal builds on the existing pact to support the development of an expanded portfolio of lead-212 targeted alpha therapies.AdvanCell’s star has risen since it began working with Point in 2023. Last week, the biotech disclosed a $112 million series C that was co-led by SV Health Investors, Sanofi Ventures, Abingworth and SymBiosis. AdvanCell’s pipeline is led by a would-be challenger to Novartis’ prostate cancer drug Pluvicto.