ResTORbio, a new company developing tech spun out of Novartis, has raised $40 million in a Series B round to speed its anti-aging program through the clinic.
The startup, which was set up earlier this year as a subsidiary of Boston-based PureTech Health, has brought in $65 million since its inception. The money will be used to advance the company’s lead immunotherapy program meant to reduce respiratory tract infections in elderly subjects, which is already in Phase IIb. Results are expected next year.
Leftover funds will also be used to start a study in an additional aging-related disease, although resTORbio did not share the details.
“We believe our approach may provide an opportunity to address multiple aging-related diseases beyond our initial indication for reducing the incidence of respiratory tract infections in the elderly,” said president and CEO Chen Schor in a statement.
The company in-licensed its lead program, called RTB101, from the Novartis Institute of BioMedical Research back in March. RTB101 targets the rapamycin complex 1 (mTORC1) pathway. To start, resTORbio plans on developing medicines that address immunosenescence, the decline in immune function due to aging.
Aging has been a growing focus among a handful of biotechs, though there are still plenty of pesky details about development and endpoints that need to be worked out with the FDA. Still, this is an advanced effort, especially compared to cell senescence programs at startups like Unity.
The cash from this new round mainly comes from OrbiMed Advisors, with participation from Fideltiy, Rock Springs Capital, Quan Capital, and Nest Bio.
With the money comes new board member Jonathan Silverstein, partner and a co-head of Global Private Equity at OrbiMed.
The best place to read Endpoints News? In your inbox.
Comprehensive daily news report for those who discover, develop, and market drugs. Join 37,600+ biopharma pros who read Endpoints News by email every day.Free Subscription