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.