US-based cellular medicine developer Be Biopharma has completed a $130m series B round featuring pharmaceutical companies Bristol Myers Squibb and Takeda.
Arch Venture Partners led the round with backing from Atlas Venture, RA Capital Management, Longwood Fund and Alta Partners, while Takeda participated through corporate venturing unit Takeda Ventures.
Founded in 2020 by Longwood Fund, Be Bio is developing therapies by engineering B cells, a type of white blood cell that produces proteins and antibodies.
The startup’s product pipeline is currently focused on cancer and rare diseases but it plans to tackle other areas, such as neurological conditions, infectious diseases and autoimmune diseases, as its platform continues to be developed.
Be Bio CEO Joanne Smith-Farrell, said: “The human B cell produces thousands of proteins per second. Be Bio is harnessing this remarkable cell to engineer a new class of cellular medicines that produce durable therapeutic proteins in vivo with the potential ability to dose titrate, and redose when required, without the need for toxic preconditioning.
“Our pipeline spans multiple therapeutic areas, and we are inspired and humbled by the potential to transform patients’ lives.”
Proceeds from the round will be used to further develop Be Bio’s therapy platform and advance its therapeutic candidates towards clinical trials. Bristol Myers Squibb and Arch Venture Partners are new investors in the round, the rest having also backed a $52m series A round in late 2020.
Robert Plenge, head of Bristol Myers Squibb’s Immunology, Cardiovascular and Fibrosis Thematic Research Center, is joining Be Bio’s board in conjunction with the latest funding, along with Arch Venture Partners’ Steven Gillis and Robert Nelsen.
