Farukh Kitchlew | Feb 19, 2024 | 0
Aro Biotherapeutics Secures $41.5M Series B Financing to Advance Genetic Medicines
Philadelphia-based Aro Biotherapeutics has successfully raised $41.5 million in a Series B financing round led by Cowen Healthcare Investments. This funding boost, which includes support from Aro’s existing investors such as Johnson & Johnson Innovation – JJDC, Inc., Northpond Ventures, Healthcap, and BVF Partners, will propel the clinical-stage biotechnology company forward in its mission to pioneer tissue-targeted genetic medicines.
Aro Biotherapeutics stands out for its innovative Centyrin platform. The platform facilitates efficient and tissue-targeted delivery of small interfering RNA (siRNA). This breakthrough technology promises to revolutionize genetic medicine by enabling precise and effective treatments for various diseases.
Susan Dillon, Ph.D., CEO of Aro Biotherapeutics, expressed gratitude for the support from the syndicate of investors, stating,
“This funding enables us to continue to pursue our mission and bring new medicines to patients who desperately need more effective treatments,”
Focus on Pompe Disease
Aro Biotherapeutics plans to utilize the newly acquired funds to advance the development of ABX1100. The ABX1100 is a novel potential treatment for Pompe Disease. The treatment, a Centyrin-siRNA conjugate, demonstrated a favorable safety profile in GLP toxicology studies, supporting the potential for monthly or quarterly dosing. ABX1100 has received Orphan Drug Designation and Rare Pediatric Disease status from the United States Food and Drug Administration (FDA)
Additionally, Aro Biotherapeutics will use the Series B funding to support new Centyrin-siRNA conjugate programs. These programs aim to discover innovative therapies for autoimmune disorders. This further diversifies Aro’s therapeutic offerings.
Christopher Picariello, President of JJDC, has joined Aro’s Board of Directors with the Series B financing. This strategic addition brings valuable industry expertise to Aro. Aro Biotherapeutics’ successful Series B financing marks a pivotal moment in advancing genetic medicines, with a focus on the promising treatment of Pompe Disease. The company’s Centurion platform continues to be a driving force in enabling targeted and efficient genetic delivery, offering hope for patients seeking more effective treatments.