Takeda Ventures, the investment arm of pharmaceutical firm Takeda, co-led a $13m series A round yesterday for US-based biopharmaceutical company Bioniz Therapeutics.
David Pyott, former CEO of medical device company Allergan, co-led the round and has been appointed as chairman of Bioniz’s board. Cota Capital and angel investor Joe Kiani, the chairman and chief executive of medical device company Masimo, also supplied funding.
Established in 2010, Bioniz is working on treatments for immuno-inflammatory diseases. Its lead candidate, BNZ-1, targets associated myelopathy, a chronic disease of the spinal cord and certain kinds of T-cell leukaemia.
A second lead candidate, BNZ-2, is aimed at coeliac disease and other disorders of the gastro-intestinal tract.
BNZ-1 has secured an investigational new drug (IND) application from US regulator Food and Drug Administration and will enter a phase 1 clinical trial in partnership with the US National Institutes of Health (NIH).
Ilan Zipkin, senior investment director at Takeda Ventures, and Kiani have joined the board of directors as part of the deal. Bioniz previously raised nearly $580,000 in 2013 and approximately $717,000 in 2014, according to regulatory filings.
Nazli Azimi, founder, president and CEO of Bioniz, said: “The acceptance of the BNZ-1 IND is a great accomplishment by our team and we are excited to collaborate with the NIH on the clinical advancement of this program.
“I am very pleased to have the opportunity to work with such a dedicated group of people and organisations who share our vision for success in bringing these therapies to patients.”