Autoimmunity BioSolutions announced the close of a $1 million seed extension financing round, bringing the company’s total seed funding to $3.1 million. The financing was anchored by Eos BioInnovation alongside participation from several family office investors focused on long-term healthcare and biotechnology investments.
The round also included continued participation from existing investors Independent Capital and Elmstead Partners, while NewTech Investment Holdings joined as a new investor in the company.
Autoimmunity BioSolutions is developing a personalized, genetically guided immuno-corrective therapy designed to normalize elevated levels of soluble IL7 receptor, or sIL7R, which the company believes plays a significant role in autoimmune disease progression and therapeutic response.
According to the company, its scientific team identified a highly prevalent single-nucleotide polymorphism, or SNP, estimated to exist in roughly half of the overall population and associated with a two- to three-fold increase in circulating sIL7R levels. The company said elevated sIL7R levels have been linked through scientific research to increased disease severity, greater disease progression, and reduced response to standard therapies across autoimmune diseases, including rheumatoid arthritis, lupus nephritis, and type 1 diabetes.
The new capital will support additional preclinical development activities, including animal model studies and patient biosample analyses related to the company’s lead rheumatoid arthritis program.
Autoimmunity BioSolutions said its approach differs from traditional immunosuppressive therapies by targeting a genetically defined patient population with elevated sIL7R levels in an effort to improve treatment response and disease outcomes.
KEY QUOTE:
“We are grateful for the continued support of our family office partners, whose participation in this seed extension reflects shared belief in the transformative potential of our platform. With the participation of seasoned investors who understand the pace and promise of life sciences innovation, we are well-positioned to deploy this capital with purpose, completing important animal model work and patient bio-sample analyses in our lead indication of Rheumatoid Arthritis, building on the compelling scientific momentum already underway at ABS.”
Eugene Williams, CEO, Autoimmunity BioSolutions
