Poplar Therapeutics, a clinical-stage immunology company developing a new class of anti-IgE therapy for food allergy and other atopic conditions, has closed a $45 million Series A extension, bringing its total Series A financing to $95 million.
The extension round was led by Janus Henderson Investors, with RA Capital joining as a new investor. Existing backers, including SR One, Vida Ventures, and ArrowMark Partners affiliates, also participated in the financing.
The proceeds will support continued clinical development of the company’s lead asset, PHB-050, which is currently being evaluated in a Phase 1 clinical trial for food allergy. The trial is expected to generate key data on safety, pharmacokinetics, and the potential to rapidly reduce circulating IgE levels toward zero, helping inform the next stage of clinical development.
PHB-050 is designed as a next-generation anti-IgE antibody targeting multiple atopic diseases, including food allergy, asthma and atopic dermatitis, with potential applications in select orphan immunology and inflammatory diseases. The therapy features a triple-action mechanism intended to block IgE from binding to mast cells, rapidly reduce circulating IgE and inhibit its production.
Despite the availability of omalizumab, marketed as Xolair, millions of patients with atopic diseases such as food allergy, allergic asthma and atopic dermatitis continue to face limited treatment options. According to the company, more than seven million patients with atopic conditions have high IgE levels, with approximately three million considered ineligible for or resistant to current standard therapies. In food allergy, about half of patients are classified as having high IgE levels.
Founded in 2024, Poplar Therapeutics is advancing the concept that IgE can be rapidly driven toward zero, with the aim of improving outcomes for people living with IgE-mediated conditions.
KEY QUOTES
“Poplar Therapeutics is advancing a differentiated approach that has the potential to redefine how IgE-mediated diseases are treated. We believe the upcoming Phase 1 data will be an important milestone in validating this novel mechanism and we look forward to supporting the company as it works to bring this therapy to patients in need.”
Daniel Lyons, PhD, CFA, Portfolio Manager, Research Analyst, Janus Henderson Investors
“This extension reflects the strong conviction of our new and existing investors in Poplar’s differentiated science and clinical strategy and will allow us to continue the development of our potential best-in-class anti-IgE therapy through Phase 2 clinical trials. We are thrilled to have Janus and RA Capital join our exceptional investor partners in our shared goal of transforming the treatment of atopic disease. We believe that PHB-050 has the potential to help millions of patients in need of effective treatment options.”
Chip Baird, Chief Executive Officer, Poplar Therapeutics
