Accro Bioscience announced the closing of a $50 million Series C financing round led by OrbiMed, with participation from TCG Crossover (TCGX), LAV, Cenova Capital, and existing investors Shenzhen Capital Group (SCGC) and Oriza Holdings.
The financing proceeds will support the advancement of Accro Bioscience’s multi-asset clinical pipeline focused on immune-mediated diseases, including the Phase IIb clinical trial of AC-101, a leading RIPK2 inhibitor being developed for the treatment of Ulcerative Colitis (UC). The company will also use the funding to advance additional novel therapeutic candidates targeting inflammatory and autoimmune diseases.
Accro Bioscience is a clinical-stage biotechnology company focused on developing therapeutics that target molecular mechanisms of regulatory cell death for immune mediated diseases. The company’s pipeline includes first and best-in-class compounds designed to deliver oral therapies for patients living with inflammatory and autoimmune conditions.
AC-101 is a selective RIPK2 inhibitor targeting the NOD signaling pathway, which has been associated with several inflammatory and autoimmune diseases. The candidate has completed Phase I studies in healthy volunteers in Australia and China, where it demonstrated favorable safety and PK/PD profiles. The company also completed a Phase Ib/IIa proof-of-concept study in Chinese patients with moderate-to-severe Ulcerative Colitis and received IND clearance from the U.S. Food and Drug Administration for a Phase II clinical trial.
OrbiMed is a healthcare investment firm with more than $19 billion in assets under management. The firm invests globally across the healthcare sector through private equity, public equity, and royalty and credit funds.
KEY QUOTES:
“We at Accro Bioscience are focused on our mission of delivering innovative oral treatments for the millions of patients living with immune mediated diseases. I’m grateful to our investors who share our vision and have supported us continuously.”
Xiaohu (Jason) Zhang, Co-founder and CEO, Accro Bioscience
“We are highly impressed by Accro Bioscience’s innovative pipeline. The team’s scientific acumen and track record of strong execution were instrumental in our decision to invest. OrbiMed is excited to partner with Accro to accelerate their global clinical development.”
Steven Wang, Partner, OrbiMed
