Less than a year after completing a series B extension round, Angitia Biopharmaceuticals has set its sights even higher with a $120 million series C that the biotech will use to push its three musculoskeletal candidates through ongoing trials.
Bain Capital Life Sciences led the financing, with new investor Janus Henderson joining previous backers OrbiMed, 3H Health Investment, Yonghua Capital, Legend Capital and Elikon Venture. The latest fundraise follows a pair of series B extension rounds in October 2023 and January 2024 that together brought in $86 million.
Angitia will use the cash to fund ongoing trials of its drug prospects, the most advanced of which is AGA111, a biologic to promote spinal fusion in patients with degenerative disc disease that is undergoing a phase 3 study. There’s also AGA2118, a bispecific antibody targeting sclerostin and DKK1, which is in a phase 2 trial for osteoporosis in postmenopausal women.
Finally, there is AGA2115, another sclerostin and DKK1-targeting antibody that’s in a first-in-human study for osteogenesis imperfecta, also known as brittle bone disease. The biotech has heralded the two bispecifics as “increasing bone formation and decreasing bone resorption” in order to “promote stronger, more organized skeletal development in patients."
The California-based company used a readout from a phase 1 trial of AGA2118 in 88 adults in September to point to “rapid and robust bone mineral density gains.”
“The broad support for Angitia in this financing validates the hard work of our team, the clinical progress of our programs, and the quality of our emerging data,” CEO David Ke, M.D., said in the Dec. 11 release. “We express gratitude to our investors, new and returning, for their support in our journey to provide novel and effective treatments for patients with musculoskeletal disease, and we look forward to continuing to execute on developing these valuable medicines.”
Today’s financing also saw Aptinyx founder and former Naurex CEO Norbert Riedel, Ph.D., join Angitia’s board.