Landos Biopharma Completes $60 Million Series B Financing
- RTW Investments joins existing investor Perceptive Advisors in leading financing with a strong syndicate -
- Proceeds will support two global Phase 2 studies of lead product BT-11 for Ulcerative Colitis and Crohn’s disease, and advancement of additional pipeline candidates -
BLACKSBURG, VIRGINIA, August 13th, 2019 – Landos Biopharma, Inc., a clinical-stage biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases, announced the successful completion of its $60 million Series B financing round. The financing was co-led by RTW Investments and Perceptive Advisors (Perceptive Xontogeny Venture Fund and Perceptive Life Sciences Fund).
“I am delighted to announce the closing of a $60 million Series B financing,” said Dr. Josep Bassaganya-Riera, Chairman of the Board, President, and CEO of Landos. “This financing is an important part of our strategy to advance lead product BT-11 into global Phase 2 clinical trials for ulcerative colitis and Crohn’s disease. There is an unmet clinical need for new therapies for complex diseases such as Inflammatory Bowel Disease. We are pleased that our investors share Landos’ mission of accelerating drug development and serving the unmet needs of millions of patients living with these widespread and debilitating conditions.”
This financing will support Landos’ Phase 2 global clinical trials for BT-11 in ulcerative colitis and Crohn’s disease. BT-11 is a first-in-class, oral, gut-restricted small molecule therapeutic with a unique mechanism of action that targets a novel pathway called Lanthionine Synthetase C-Like 2 (LANCL2). Results from Landos’ Phase 1 clinical trial (published in May 2019 in the IBD Journal) demonstrated that the compound was well-tolerated. Fecal calprotectin levels, which we believe is a predictive biomarker of response to treatment in IBD, were lower in all BT-11-treated groups when compared to placebo. We believe this activity provides initial biomarker evidence of response to treatment.
About Landos Biopharma
Landos Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases. Landos’ lead clinical asset, BT-11, is a first-in-class, oral therapeutic that acts locally in the gastrointestinal tract for treatment of inflammatory bowel disease (IBD). The company has completed Phase 1 clinical testing and has initiated Phase 2 clinical testing of BT-11 for inflammatory bowel disease in 2019. Landos also has a robust pipeline of new compounds for other autoimmune diseases, several of which Landos anticipates will advance to IND and Phase 1 clinical testing in 2020. Landos is headquartered in Blacksburg, VA. For more information, please visit www.landosbiopharma.com or contact firstname.lastname@example.org or follow us @Landosbio.
The NIMML Institute is a 501 (c) (3) non-profit public charity foundation focused on a transdisciplinary, team-science approach to precision medicine at the interface of immunology, inflammation, and metabolism. The NIMML Institute team has led numerous large-scale transdisciplinary projects and is dedicated to solving important societal problems by combining the expertise of immunologists, computational biologists, toxicologists, modelers, translational researchers, and molecular biologists. The Institute is headquartered in Blacksburg, VA. For more information, please visit www.nimml.org or contact email@example.com.
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