Autoimmune disease drug developer Zenas BioPharma, which is based in the US and China, has announced the completion of a Series B financing round at USD 118 million. The round was led by Enavate Sciences, with participation from Longitude Capital, Vivo Capital, Rock Springs Capital, Perceptive Advisors, Agent Capital, Pivotal bioVenture Partners, and Superstring Capital. Existing investors Fairmount, Wellington Management, Tellus BioVentures, Quan Venture Fund, and Xencor, Inc. also participated. The proceeds will be used to advance the clinical development of its lead drug candidate obexelimab, a bispecific antibody (BsAb) targeting CD19 and FcγRIIB, and other global autoimmune disease programs.
Obexelimab Profile
Obexelimab is a potential first-in-class bifunctional antibody that Zenas licensed from Xencor Inc., taking global development rights. The drug candidate inhibits B-cell lineages that express CD19, effectively inhibiting B-cell function without depleting cells. It has shown encouraging signs of treatment efficacy in multiple autoimmune diseases during early clinical studies. A global Phase III registration trial will be initiated in late 2022 to assess the drug in patients with IgG4-related disease (IgG4-RD).
Future Development Plans
The funding will support the advancement of obexelimab through its Phase III trial and other autoimmune disease programs, positioning Zenas BioPharma to make significant strides in addressing unmet needs in autoimmune diseases. This strategic financing round underscores the company’s commitment to developing innovative therapies that can transform patient outcomes.-Fineline Info & Tech
