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Venture Capital News: Q32 Bio Scoops Up $60M Series B

CAMBRIDGE, MA, Q32 Bio, a biotechnology company developing biologic therapeutics to restore healthy immune regulation, today announced the completion of a $60 million Series B round.
The Series B financing was co-led by OrbiMed Advisors and Acorn Bioventures. The company also announced the commencement of a Phase 1 clinical trial evaluating its best-in-class IL-7R antibody ADX-914, a significant milestone marking Q32 Bio's entry into clinical-stage development.

Proceeds from the Series B financing will support the advancement of ADX-914 through demonstration of proof-of-mechanism and propel the company's groundbreaking tissue-targeted complement regulation platform. ADX-097 is the first fusion protein generated by Q32's complement platform and is expected to enter Phase 1 in the fourth quarter of 2021. The financing also enables further refinement and expansion of both the company's platform and pipeline.

Q32 Bio is a clinical stage biotechnology company developing therapies targeting powerful regulators of the innate and adaptive immune systems to re-balance immunity in severe autoimmune and inflammatory diseases. Q32 Bio's lead programs, focused on the IL-7R pathway and complement system, address immune dysregulation to help patients take back control of their lives.

The first-in-human trial for the company's most advanced program, ADX-914, a fully human anti-IL-7R antibody, is designed to evaluate safety and tolerability and demonstrate proof-of-mechanism. IL-7 has been genetically and biologically validated to drive several T cell-mediated pathological processes in numerous autoimmune diseases.

Q32 Bio's lead program for innate immunity, ADX-097, is based on a pioneering approach enabling tissue-targeted regulation of the complement system without long-term systemic blockade - a key differentiator versus current complement therapeutics. First-in-human dosing of ADX-097 is planned for 2H 2021.
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