AusperBio secures $37 million in Series A financing to advance clinical development of AHB-137 for HBV cure
SAN FRANCISCO, July 14, 2024 /PRNewswire/ — AusperBio Therapeutics, Inc. And Ausper Biopharma Co., Ltd. (together AusperBio), a private clinical-stage biotechnology company focused on advancing targeted oligonucleotide therapies with the goal of finding a functional cure for chronic hepatitis B (CH B) infection, today announced the completion of a 37 million US dollars Series A financing round. This round was led by existing investor, InnoPinnacle Fundwith the participation of new investors, including Yuanbio Venture Capital, Qiming Venture Partner, Hankang CapitalAnd Genesis Capital.
Proceeds from the financing will further support the clinical development of AHB-137, AusperBio’s lead product candidate. In addition, the funds will support the Company’s proprietary Med-Oligo™ Technology platform and its product pipelines.
DR. Guofeng ChengCo-founder and CEO of AusperBio, commented: “We are immensely grateful to our existing investors for their continued support and are very excited to welcome new investors to the company. This funding round represents a significant milestone that recognizes our scientific and clinical achievements to date. The collective commitment of our investors to developing new therapeutics for CHB patients is truly inspiring. With this funding, together with the recent Breakthrough Therapy designation (BTD) out of China’s CDEwe are well positioned to rapidly advance the clinical development of AHB-137 and move one step closer to providing an important new treatment option for patients with CHB.”
About AHB-137
AHB-137, a novel unconjugated antisense oligonucleotide (ASO), developed under the proprietary Med-Oligo™ ASO technology platform, was developed to treat chronic hepatitis B for a functional cure. Its compelling preclinical and Phase 1 clinical data were presented at the 2023 EASL™ Conference and the 2024 EASL™ Conference. This novel dual mechanism ASO is currently undergoing a phase 1b Study at several international study sites and a parallel Phase 2 study in ChinaThrough a global development strategy, AHB-137 is rapidly moving toward the goal of curing HBV.
About AusperBio.
AusperBio is a clinical-stage biopharmaceutical company with offices in the United States and Chinadedicated to advancing oligonucleotides and targeted delivery technologies for transformative therapies, with an initial focus on curing chronic hepatitis B infections. The company has a proprietary Med-Oligo™ ASO Platform that has been proven to significantly improve current ASO therapeutics through new insights in ASO design. In combination with efficient, targeted delivery conjugation technologies, the modular Med-Oligo™ The platform enables ASO therapeutics to treat a broad range of diseases, including viral infections, metabolic diseases, genetic disorders and immune diseases.
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Source: AusperBio Therapeutics Inc.
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