Star Therapeutics, a biotechnology company dedicated to exploring novel biology to develop transformative therapies, has successfully closed an oversubscribed $90 million Series C financing round. This funding will support the clinical progression of VGA039, a groundbreaking antibody currently undergoing Phase 1a/1b evaluation for von Willebrand disease. VGA039 is being developed by Vega Therapeutics, a Star portfolio company specializing in underserved blood disorders.
The Series C financing was led by Sofinnova Investments and featured new investors, including Qatar Investment Authority (QIA), Catalio Capital Management, Agent Capital, Soleus Capital, and NYBC Ventures. Existing investors, such as Westlake Village BioPartners, OrbiMed, Redmile Group, RA Capital Management, New Leaf Venture Partners, Cormorant Asset Management, and Cowen Healthcare Investments, also participated. With this latest funding round, Star Therapeutics has raised over $190 million since its inception, enabling the creation of multiple portfolio companies.
In addition to advancing VGA039, the proceeds will support Star’s role as an innovation engine for generating biotech companies focused on discovering and advancing novel antibody therapies targeting various diseases.
Dr. Adam Rosenthal, CEO and Founder of Star Therapeutics, expressed gratitude for the support from seasoned life sciences investors. He emphasized the company’s mission to develop life-changing therapies for patients and its ability to advance antibodies from concept to clinical stage rapidly.
The company’s Board will include prominent figures from the life sciences sector, including Beth Seidenberg, MD, Founding Managing Director at Westlake Village BioPartners; Carl Gordon, PhD, Managing Partner at OrbiMed; Amrit Nagpal, Managing Director at Redmile Group; Maha Katabi, PhD, General Partner at Sofinnova Investments; Nancy Stagliano, PhD, Executive Board Chair; and Adam Rosenthal, PhD, CEO and Founder of Star.
Star Therapeutics, based in South San Francisco, seeks to create transformative therapies for a range of diseases, initially focusing on unmet needs in hematology and immunology. The company identifies shared biology across multiple diseases and develops innovative therapeutics capable of treating numerous diseases with a single therapy.