Star Therapeutics, a South San Francisco, CA-based biotechnology company advancing antibody therapies, raised $90M in Series C funding.
The round was led by Sofinnova Investments, and included new investors Qatar Investment Authority (QIA), Catalio Capital Management, Agent Capital, Soleus Capital, and NYBC Ventures, as well as participation from all existing investors including Westlake Village BioPartners, OrbiMed, Redmile Group, RA Capital Management, New Leaf Venture Partners, Cormorant Asset Management, and Cowen Healthcare Investments. Including this Series C round, Star Therapeutics has raised over $190m since inception to create numerous portfolio companies.
The company intends to use the funds for clinical advancement of VGA039, a first-in-class antibody currently being evaluated in a Phase 1a/1b study for von Willebrand disease. This novel therapy is being developed by Vega Therapeutics, a Star portfolio company focused on underserved blood disorders. Proceeds will also be used to continue Star’s approach as an innovation engine to generate additional biotech companies focused on discovering and advancing novel antibody therapies, each targeting multiple diseases.
Led by CEO Adam Rosenthal, Star Therapeutics is a biotechnology company that interrogates areas of novel biology to develop life-changing therapies for as many patients as possible, initially addressing needs in hematology and immunology. Its engine starts with identifying multiple diseases that share a common biology and then discovering novel therapeutics that can treat numerous diseases with a single therapy. Star consists of a constellation of companies, each focused on a specific area of biology with therapies.
Concurrent with this financing, the Board will consist of Beth Seidenberg, MD, Founding Managing Director at Westlake Village BioPartners; Carl Gordon, PhD, Managing Partner at OrbiMed; Amrit Nagpal, Managing Director at Redmile Group, Maha Katabi, PhD, General Partner at Sofinnova Investments; Nancy Stagliano, PhD, Executive Board Chair; and Adam Rosenthal, PhD, CEO and Founder of Star. Star’s Board observers include Vijay Lathi, Founding Managing Director at New Leaf Venture Partners and Matt Hammond, PhD, Principal at RA Capital Management.
FinSMEs
05/09/2023