Aura Biosciences has closed a $30 million Series C round with funding from new investors like Arix Bioscience and Lundbeckfonden Ventures, as well as existing investors, including the estate of former-Genzyme CEO Henri Termeer, who died earlier this year.
The privately-held biotech is developing a light-activated nanoparticle therapy for patients with ocular melanoma. Aura said it plans to use its newly-acquired funds to expand infrastructure for its Phase Ib/II clinical trial.
The company also expects to expand its footprint in Cambridge, Mass., next year.
“This year has been one of incredible momentum for Aura, with interim positive data reported from our Phase Ib/II study of AU-011 and enthusiasm from key opinion leaders in ocular oncology across the country,” founder & CEO Elisabet de los Pinos said in prepared remarks.
“We are pleased to enter 2018 with the renewed support of existing investors and to welcome Lundbeckfonden Ventures and Arix Bioscience to our Series C syndicate. We look forward this year to laying the groundwork for Phase III clinical development, furthering our commitment to enabling earlier treatment intervention for patients with ocular melanoma.”
“The Aura team has proven nimble while retaining a strong scientific rigor as it has made the transition to a clinical-stage company,” Casper Breum, senior partner at Lundbeckfonden Ventures, added.
“We believe that this timely investment will propel the company’s preparations for late-stage studies of AU-011, with the potential to provide a safe and effective therapy where plaque radiation or enucleation are the only options currently,” Mark Chin, investment director at Arix Bioscience, said.
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