Q32 Bio, a US-based immune regulation drug developer, closed a $60m series B round yesterday featuring Sanofi Ventures, the strategic investment arm of pharmaceutical firm Sanofi.
University of Colorado and healthcare provider Children’s Hospital Colorado’s Center for Innovation both participated in the round, which was co-led by OrbiMed and Acorn Bioventures and also backed by Osage University Partners, Atlas Venture, Abingworth and undisclosed additional investors.
Q32 Bio is developing drugs designed to regulate the patient’s immune system to fight off autoimmune and inflammatory diseases.
The company’s lead candidate, a monoclonal antibody called ADX-914, targets the interleukin-7 pathway to address suppression of T-cells, and was licensed from pharmaceutical firm Bristol Myers Squibb in return for equity and an upfront payment.
A second candidate, ADX-097, was discovered internally and is slated to begin clinical development in the fourth quarter of 2021 using proceeds from the series B round. Q32 Bio will also invest to refine its portfolio and core drug discovery platform.
Q32 Bio extends research from Michael Holers and Joshua Thurman at University of Colorado, and Steven Tomlinson at Medical University of South Carolina. Isaac Manke, partner at Acorn Bioventures, has joined its board of directors alongside Diyong Xu, a principal at OrbiMed.
Atlas Venture incubated Q32 Bio and supplied an undisclosed amount of seed funding at an unspecified date. It then led a $46m series A round closed in June 2020 that included Sanofi Ventures, Children’s Hospital Colorado Center for Innovation, OrbiMed and Abingworth.