ARCH-backed immunology company HI-Bio raises $95M as it pushes toward late-stage studies
Human Immunology Biosciences, known as HI-Bio for short, has raised $95 million as it awaits data from a series of studies on its lead compound, an antibody that targets a white blood cell surface protein called CD38.
The biotech plans to use the money to fund its ongoing studies of the anti-CD38 antibody felzartamab, which it licensed from MorphoSys in 2022. In April, the biotech touted early data in a rare kidney disease called primary membranous nephropathy, or PMN, that suggested its drug candidate reduced the level of bad, self-attacking antibodies associated with the disease.
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