BioClin Therapeutics said yesterday that it closed a $30 million Series B round led by new investors Sofinnova Ventures and Ysios Capital. Existing investors HealthCap, Life Sciences Partners and Tekla Capital Management also invested.
The company plans to use the newly-acquired funds to advance its lead candidate, B-701, as a treatment for metastatic bladder cancer in patients who have relapsed or are refractory to platinum therapy.
BioClin’s B-701 is a human monoclonal antibody that targets fibroblast growth factor receptor 3 (FGFR3). The 1st clinical study of the candidate is evaluating the antibody in combination with docetaxel.
“This financing allows us to expand our Phase Ib/II trial evaluating B-701 in combination with docetaxel, as well initiate a Phase Ib/II trial evaluating B-701 in combination with atezolizumab,” CEO Stephen Lau said in prepared remarks.
Sofinnova Venture’s Cory Freedland and Joel Jean-Mairet of Ysios Capital have joined the company’s board of directors in conjunction with the round. Dr. David Lacey was named board observer, according to the company.
San Roman, Calif.-based BioClin said that it has now raised $59 million from investors.
“Over the past couple years, there has been significant scientific advancement and understanding of FGFR3 biology and bladder cancer, both for FGFR3 itself as a possible driver for metastatic bladder cancer, as well as its potential role in tumor inflammation. We are very enthusiastic about the B-701 program and its potential for enhancing the treatment effects of checkpoint inhibitors,” Jean-Mairet said.
“We believe that targeted therapies, specifically FGFR3 in combination with immunotherapy, are an important area of development. In addition, we are excited to join the BioClin syndicate and to attract the caliber of David Lacey to the BioClin team,” Freedland added.