Star Therapeutics, an innovative clinical-stage biotechnology company, is dedicated to discovering and developing cutting-edge antibodies aimed at treating bleeding disorders and other medical conditions. The company recently announced the completion of an oversubscribed Series D financing round, in which it raised $125 million.
This funding round was co-led by Sanofi Ventures and Viking Global Investors, attracting interest from both existing investors and several new participants. Notable new investors include Janus Henderson Investors, Frazier Life Sciences, and GordonMD Global Investments. Among the existing investors who continued to support Star Therapeutics in this round are several well-regarded institutions, including Agent Capital, Blue Owl Capital, Catalio Capital Management, and Cormorant Asset Management. Other returning backers include New Leaf Venture Partners, NYBC Ventures, OrbiMed, and the Qatar Investment Authority (QIA), as well as RA Capital Management, Redmile Group, Sofinnova Investments, Soleus Capital, and Westlake BioPartners.
The funds raised through this funding round will be instrumental in advancing Star Therapeutics’ robust pipeline of therapeutic candidates, with a particular focus on its lead program, VGA039. VGA039 is an innovative first-in-class monoclonal antibody specifically designed to target Protein S, a crucial protein involved in the regulation of blood clotting. By restoring balance to the clotting process, VGA039 holds promise as a universal hemostatic therapy for a range of bleeding disorders, with a primary emphasis on treating von Willebrand disease (VWD), a common and often underdiagnosed bleeding disorder.
To bring VGA039 closer to patients, Star Therapeutics has initiated a pivotal Phase 3 clinical trial. This comprehensive study aims to assess the safety and efficacy of VGA039 in patients diagnosed with all types of VWD. The trial is designed to evaluate the administration of VGA039 through a subcutaneous injection once a month, providing a potentially convenient and effective treatment option for individuals living with this debilitating condition. As Star Therapeutics progresses through this critical phase of development, it remains committed to improving the lives of patients affected by bleeding disorders through innovative therapeutic solutions.
In connection with the funding, Jason Hafler, Ph.D., from Sanofi Ventures will join Star’s board of directors, and Maneka Mirchandaney of Viking Global Investors will join as a board observer.
KEY QUOTES:
“We’re making significant progress across our pipeline, highlighted by the recent initiation of our Phase 3 trial of VGA039 to prevent bleeding in people with all types of VWD, the most common inherited bleeding disorder, with more than 50,000 patients diagnosed and treated in the U.S. VGA039 has the potential to be transformative for VWD patients and could meaningfully reduce the treatment burden, given its once monthly subcutaneous dosing regimen, in comparison to factor replacement prophylaxis which requires two to three IV infusions per week. This new funding from leading life sciences investors reinforces the urgency and impact of our mission: to bring life-changing therapies to people living with serious bleeding disorders and other diseases in hematology and immunology.”
Adam Rosenthal, Ph.D., CEO and Founder of Star Therapeutics
“At Sanofi Ventures, we’re proud to bring meaningful experience in supporting innovative therapies for bleeding disorders and remain deeply committed to exploring best-in-class therapies to better meet the needs of patients. VWD represents a compelling opportunity, with a sizable patient population and significant unmet need. With VGA039 advancing into Phase 3 for VWD, Star is well-positioned to deliver both substantial patient impact and long-term value. We’re proud to support a team with a strong track record and a bold vision for transforming care in VWD and beyond.”
Jason Hafler, Ph.D., Managing Director at Sanofi Ventures
