Asher Biotherapeutics, a leader in developing targeted immunotherapies, has secured $55 million in Series C funding led by RA Capital Management. This investment will enable the company to advance its lead program, AB248, a CD8-targeted IL-2 immunotherapy.
• The financing will fund Phase 1b monotherapy expansion data and early safety and efficacy results from the ongoing combination with pembrolizumab.
• New investors include AstraZeneca and Bristol Myers Squibb, demonstrating the value of Asher Bio’s approach in oncology.
• AB248 is designed to selectively activate CD8+ T cells, minimizing toxicity and maximizing efficacy.
• Early clinical data indicate potent CD8+ T cell activation without significant regulatory T and NK cell counts changes.
• Asher Bio’s platform offers a differentiated approach to immunotherapy with the potential to revolutionize cancer treatment.
“We are delighted to have the continued support of RA Capital, and excited to add two top biopharmaceutical companies and experts in oncology to our investor syndicate,” said Craig Gibbs, CEO of Asher Bio.
Asher Bio plans to utilize the proceeds to generate tumor response data from AB248 monotherapy expansion cohorts and data from dose escalation and expansion in combination with a PD-1 checkpoint inhibitor.
Jon Napitupulu is Director of Media Relations at The Clinical Trial Vanguard. Jon, a computer data scientist, focuses on the latest clinical trial industry news and trends.
