ZENAS BIOPHARMA SECURES US$118 MILLION TO ADVANCE BROAD PIPELINE OF AUTOIMMUNE DISEASE THERAPEUTICS
KUALA LUMPUR, Nov 10 (Bernama) -- Zenas BioPharma, a global biopharmaceutical company, has announced proceeds of US$118 million in connection with the issuance of Series B preferred shares. (US$1=RM4.71)
Proceeds from the financing will support the clinical advancement of the company’s lead product candidate Obexelimab, including a global Phase 3 registration trial in patients with IgG4-related disease (IgG4-RD), which will be initiated in late 2022.
In addition, the new funding will progress the company’s other global autoimmune disease programmes into clinical development in 2023, according to a statement.
In addition to Enavate Sciences, which led the Series B equity financing, new Zenas shareholders include Longitude Capital, Vivo Capital, Rock Springs Capital, Perceptive Advisors, Agent Capital, Pivotal bioVenture Partners and Superstring Capital.
“We are thrilled to have the support of Enavate and this top-tier group of global investors as we continue to advance our deep and balanced pipeline of clinical stage autoimmune therapeutics and execute our successful business development strategy,” said Founder and Executive Chairman of Zenas BioPharma, Lonnie Moulder.
In connection with the Series B financing, Enavate Sciences Chief Executive Officer, Jim Boylan; Longitude Capital Co-founder and Managing Director, Patrick Enright; and Vivo Capital Managing Partner Hongbo Lu have joined the Zenas Board of Directors.
More details at www.zenasbio.com.
-- BERNAMA
BERNAMA provides up-to-date authentic and comprehensive news and information which are disseminated via BERNAMA Wires; www.bernama.com; BERNAMA TV on Astro 502, unifi TV 631 and MYTV 121 IFLIX channels and BERNAMA Radio on FM93.9 (Klang Valley), FM107.5 (Johor Bahru), FM107.9 (Kota Kinabalu) and FM100.9 (Kuching) frequencies.
Follow us on social media :
Facebook : @bernamaofficial, @bernamatv, @bernamaradio
Twitter : @bernama.com, @BernamaTV, @bernamaradio
Instagram : @bernamaofficial, @bernamatvofficial, @bernamaradioofficial
TikTok : @bernamaofficial
