Abata Therapeutics, a US-based cell therapy developer focused on autoimmune and inflammatory diseases, has launched with $95m in series A financing from investors including gene and cell therapy developer ElevateBio.
The round was led by healthcare-focused venture capital firm Third Rock Ventures and also featured Lightspeed Venture Partners, Invus, Samsara BioCapital and JDRF T1D Fund. It followed an undisclosed amount of seed capital supplied by Third Rock and ElevateBio at an unspecified date.
Founded in 2018, Abata is working on translating the biology of regulatory T (Treg) cells into treatments for patients living with autoimmune and inflammatory diseases. Its lead asset is aimed at progressive multiple sclerosis (MS).
The company is also working on programmes aimed at type 1 diabetes and inclusion body myositis, a progressive muscle disorder for which no approved therapies currently exist. It has a collaboration agreement with ElevateBio to leverage the latter’s research and development and manufacturing centre.
Abbie Celniker, executive chairman of Abata, and partner at Third Rock Ventures, said: “Abata is the culmination of a three-plus-year effort by the company’s scientific founders and the team at Third Rock Ventures to interrogate the potential for a Treg cell therapy.
“Identifying our first programmes meant fully understanding where disease pathology and Treg biology intersect to make the biggest impact for patients, and the first clear answer is progressive MS.
“We look forward to the future as the company moves quickly to advance its MS programme into the clinic and expand upon the potential of Treg biology in inclusion body myositis, type 1 diabetes and beyond.”
