Accropeutics, a clinical-stage biotechnology company pioneering the development of novel therapeutics that target molecular mechanisms of regulated cell death for immune-mediated diseases, announced the closing of its $12 million Series B Plus financing. This funding round was led by Shenzhen Capital Group (SCGC), an existing investor, with participation from Morningside Ventures, also an existing investor, and new investors Leader Venture Investment (SZTI) and Hefei Sci-Tec Venture Capital (HFST).
The proceeds from the Series B Plus funding will be used to generate more clinical data for AC-101, a RIPK2 inhibitor, in an ongoing Phase Ib clinical trial for patients with Ulcerative Colitis (UC). and Accropeutics’ other clinical-stage assets include AC-201, a selective TYK2/JAK1 inhibitor, currently in an ongoing Phase II trial for patients with moderate-to-severe Psoriasis, and for multiple additional indications; and AC-003, a RIPK1 inhibitor, currently in an ongoing Phase Ib trial for patients with acute Graft-versus-Host Disease (aGvHD). The company also has multiple I&I assets in the pre-clinical stage.
KEY QUOTE:
“With this round of financing, we are able to continue advancing our lead programs and solidify our position as an innovative, multi-program, clinical-stage biotech company. I am grateful to our existing and new investors, who share our vision that we can transform the treatment landscape for a wide range of I&I diseases with potentially best-in-class therapies.”
- Dr. Xiaohu (Jason) Zhang, Co-founder and CEO of Accropeutics
