Zenas BioPharma, a global biopharmaceutical company focused on becoming a leader in the development and commercialization of inflammation and immunology-directed therapies, announced the closing of an upsized $200 million Series C preferred stock financing. This financing round was led by SR One along with NEA, Norwest Venture Partners, and Delos Capital with significant participation from Enavate Sciences and Longitude Capital. Additional new investors the Federated Hermes Kaufmann Funds, and Arrowmark Partners along with existing investors, Fairmount, Wellington Management, Rock Springs Capital, Pivotal bioVenture Partners, Vivo Capital, Quan Venture Fund, and Superstring Capital also joined the funding round.
In connection with the funding, Jake Nunn, venture partner at SR One, and Tim Xiao, Partner at Delos Capital, joined Zenas’ Board of Directors.
The proceeds of the funding will support ongoing mid- to late-stage clinical development programs for the Company’s lead product candidate, obexelimab, a bifunctional monoclonal antibody designed to bind both CD19 and FcγRIIb to inhibit the activity of B cells, plasmablasts, and CD19-expressing plasma cells.
The obexelimab clinical programs include an ongoing Phase 3 registration-directed trial in IgG4-Related Disease, two planned Phase 2 randomized controlled trials in Multiple Sclerosis and Systemic Lupus Erythematosus, and an ongoing open label Phase 2 trial in Warm Autoimmune Hemolytic Anemia.
KEY QUOTES:
“We are pleased and appreciative of the support we have received from this group of tremendous life sciences investors as we advance the ongoing obexelimab development program across multiple auto-immune diseases. Their commitment to Zenas is a testament to our vision to be a global leader in bringing innovative immunology-based therapies to patients around the world. This financing enables us to complete multiple potentially value driving clinical programs.”
– Lonnie Moulder, Founder and Chief Executive Officer of Zenas BioPharma
“We are excited to support Zenas’ continued progress toward its goal of becoming a global leader in innovative immunology-based therapies, and we are confident in the capabilities of this exceptional team to advance the comprehensive development program for obexelimab across multiple potential indications. At SR One, we invest in companies like Zenas whose science has the potential to rewrite the medical textbooks and meaningfully transform patient care. We are proud to serve as lead investor alongside an exceptional syndicate and look forward to supporting Zenas in advancing a pipeline of innovative new therapeutic approaches for patients living with inflammatory and immune-mediated diseases.”
– Jake Nunn, venture partner at SR One
