Swiss-based immunology company Granite Bio has secured $100m in funding for its new antibody treatments that target several autoimmune diseases.
This financial injection comprises a $30m from a Series A round, and $70m in Series B funds.
The Series A round was spearheaded by founding investors Versant Ventures and Novartis Venture Fund while Sanofi Ventures and Forbion led Series B.
Granite Bio's pipeline includes two antibodies designed to address various autoimmune conditions, tapping into considerable market opportunities.
One of the lead molecules, GRT-001, targets pro-inflammatory monocytes, which are pivotal in the development of autoimmunity and inflammation.
According to the studies on non-human primates, it is said to have dose-dependently depleted these monocytes.
The treatment was observed to be tolerated well and does not affect tissue-resident macrophages, essential for tissue homeostasis.
GRT-001 is currently being evaluated in a Phase Ia trial in healthy subjects, and later this year, it is anticipated to progress to a Phase Ib trial for treating individuals with inflammatory bowel disease.
The second molecule, GRT-002, is designed to inhibit interleukin-3, a significant contributor to autoimmune inflammation, as well as type II inflammation.
This molecule delivers an approach to managing conditions associated with allergy and itchiness.
Currently in the preclinical development stage, GRT-002 is anticipated to enter trials by 2026.
Both these molecules have been developed in partnership with Versant's Ridgeline Discovery Engine in Switzerland.
Granite Bio CEO and president Patrick Loustau said: "Granite is pioneering a new approach to tackling inflammation, autoimmunity, and fibrosis by addressing fundamental disease drivers at their source.
“With the support of an exceptional investor syndicate and a world-class team, we are advancing a pipeline of first-in-class therapies with the potential to transform patient outcomes. I look forward to working with the management team to deliver groundbreaking treatments that address the urgent unmet needs in immunology and beyond."
