BioClin Therapeutics, Inc., Raises $30 Million in Series B Financing Led by Sofinnova Ventures and Ysios Capital
BioClin Therapeutics, Inc., a privately-held clinical stage drug development company developing a first-in-class anti-FGFR3 (fibroblast growth factor receptor 3) monoclonal antibody in areas of high unmet medical need, announced today the closing of a $30 million Series B financing. The financing was led by new investors Sofinnova Ventures and Ysios Capital, and included existing investors HealthCap, Life Sciences Partners (LSP), and Tekla Capital Management. Since its founding, the company has raised a total of $59 million with leading institutional investors.
The proceeds from this financing will be used to advance the company’s lead development candidate, B-701, for the treatment of patients with metastatic bladder cancer, or metastatic urothelial carcinoma (mUC), who have relapsed or are refractory to platinum therapy. “This financing allows us to expand our Phase 1b/2 trial evaluating B-701 in combination with docetaxel, as well initiate a Phase 1b/2 trial evaluating B-701 in combination with atezolizumab,” said Stephen Lau, CEO of BioClin Therapeutics.
In conjunction with the financing, Cory Freedland, PhD, of Sofinnova Ventures and Joël Jean-Mairet, PhD, of Ysios Capital have joined the Board of Directors. David Lacey, MD has been named as a Board Observer.
“Over the past couple years, there has been significant scientific advancement and understanding of FGFR3 biology and bladder cancer, both for FGFR3 itself as a possible driver for metastatic bladder cancer, as well as its potential role in tumor inflammation. We are very enthusiastic about the B-701 program and its potential for enhancing the treatment effects of checkpoint inhibitors,” said Joël Jean-Mairet of Ysios Capital.
“We believe that targeted therapies, specifically FGFR3 in combination with immunotherapy, are an important area of development. In addition, we are excited to join the BioClin syndicate and to attract the caliber of David Lacey to the BioClin team,” said Cory Freedland of Sofinnova. Dr. Lacey, formerly Senior Vice President of Discovery Research at Amgen, possesses over 20 years of scientific and senior leadership experience within the life sciences, focused on creating new medicines to make a difference in the lives of patients worldwide. During his tenure at Amgen, Dr. Lacey led an organization of more than 1200 scientists across a portfolio of drug discovery and development programs in the therapeutic areas of hematology/oncology, inflammation, metabolic disorders, and neuroscience. Dr. Lacey currently serves as a Board member for Nurix Inc., Atreca, and Inbiomotion SL, and acts as an advisor to a number of academic institutions, biotechnology companies, and is a Venture Partner at Ysios Capital.
About BioClin Therapeutics, Inc.
BioClin Therapeutics, Inc. is a privately-held clinical stage drug development company developing biologics to address medical conditions in areas of high unmet need. The company’s lead candidate is B-701, a potential first-in-class human monoclonal antibody targeting FGFR3 (fibroblast growth factor receptor 3). B-701 is currently being evaluated in the treatment of metastatic bladder cancer. The first clinical study is a Phase 1b/2 study of B-701 in combination with docetaxel. The study includes cohorts in which patients with FGFR3 mutation or fusion will be enrolled; patients will be administered B-701 plus docetaxel, or B-701 alone as monotherapy. The second study is evaluating the combination of B-701 and atezolizumab in mUC patients and will include those with overexpressed FGFR3 as well as those with FGFR3 mutation or fusion in their tumors. B-701 is also being tested in an on-going investigator sponsored study evaluating the combination of B-701 and pembrolizumab in mUC patients.
For more information, please visit BioClin’s website: www.bioclintherapeutics.com
This press release contains forward-looking statements about the business and prospects of BioClin Therapeutics Inc., which involve risks and uncertainties, including, without limitation, statements about the timing and plans to conduct Phase 1b or Phase 2 clinical trials of B-701 in mUC. These risks and uncertainties include, among others: timing of enrollment in and results of the Phase 1b and Phase 2 clinical trials; safety of B-701 alone or in combination with other therapies; the content and timing of decisions by the U.S. Food and Drug Administration, the European Commission and other regulatory authorities concerning B-701. Such statements are subject to certain risks and uncertainties, particularly those inherent in the process of developing and commercializing drugs. The company's forward-looking statements also involve assumptions that, if they prove incorrect, would cause its results to differ materially from those expressed or implied by such forward-looking statements. BioClin is under no obligation, and expressly disclaims any obligation to update or alter any forward-looking statement, whether as a result of new information, future events or otherwise.
BioClin Therapeutics, Inc.
Chief Executive Officer
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