Upstream Bio matches first funding round with another $200M to get asthma drug to PhIII
Upstream Bio has raised another $200 million to go through Phase II studies and prepare for late-stage trials of an ex-Astellas monoclonal antibody in anticipation of competition with AstraZeneca and Amgen’s asthma drug Tezspire.
The raise, disclosed Thursday morning, mirrors its first funding round from 2021 that bankrolled the Waltham, MA-based startup’s ongoing Phase Ib in asthma. It plans to use the new round to support mid-stage studies in both asthma and chronic rhinosinusitis with nasal polyps. Both of those studies will kick off in the first quarter of 2024, CEO Samantha Truex told Endpoints News.
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