Philadelphia-based Aro Biotherapeutics announced Wednesday it had secured $41.5 million in a Series B funding round.
The funding will support Aro’s pipeline of Centyrin-siRNA programs, including its lead program ABX1100 – a novel potential treatment for Pompe Disease. The funding round was led by Cowen Healthcare Investments, with participation from existing investors including Johnson & Johnson Innovation – JJDC, Inc. (JJDC), Northpond Ventures, Healthcap and BVF Partners, L.P.
“We are appreciative of the support provided by this syndicate of leading life science industry investors,” said Susan Dillon, Ph.D., Chief Executive Officer of Aro. “Aro is well positioned to advance our pipeline and progress the field by leveraging our Centyrin platform to enable efficient and tissue-targeted delivery of siRNA. This funding enables us to continue to pursue our mission and bring new medicines to patients who desperately need more effective treatments.”
The company recently announced it would start human trials, and that it anticipates initial data from the study will be presented in 2024. The Series B funding will also support its new Centyrin-siRNA conjugate programs focused on discovering new therapies for autoimmune disorders.
The company said the ABX1100 had demonstrated a favorable safety profile in GLP toxicology studies and has received Orphan Drug Designation and Rare Pediatric Disease status from the U.S. Food and Drug Administration.
Aro Biotherapeutics focuses on pioneering the development of tissue-targeted genetic medicines with a platform based on its proprietary Centyrin protein technology. The company is currently developing a wholly-owned pipeline of Centryrin-based therapeutics and is working to leverage the technology for a diverse set of diseases, officials said.