Biosplice Therapeutics Closes $120 Million in Equity Financing to Advance Its Alternative ...
- New investors include Eventide, aMoon, SymBiosis II, Sands Capital and Verition
- Proceeds to support Biosplice’s clinical development of lorecivivint, its Phase 3 Osteoarthritis therapy, as well as its Oncology and Neurology programs
SAN DIEGO, April 15, 2021 (GLOBE NEWSWIRE) -- Biosplice Therapeutics, Inc. (“Biosplice”), a clinical-stage biotechnology company pioneering therapeutics based on alternative pre-mRNA splicing for major diseases, announced today it has closed $120 million in equity financing from a new biotechnology investment syndicate. Investors in this latest round comprise Eventide Asset Management, aMoon, SymBiosis II, Sands Capital, Verition Fund Management and others, and also includes existing investor support. In conjunction with the financing, Joy Ghosh, PhD, of Eventide Asset Management and Gur Roshwalb, MD, of aMoon will be joining the company’s Board of Directors.
“We are delighted to align with our new investors and board behind the immense therapeutic potential of Biosplice,” said Cevdet Samikoglu, Chief Executive Officer of Biosplice. “This investment round positions us to accelerate the development and launch of lorecivivint, our groundbreaking Phase 3 program in osteoarthritis. In addition, we expect to realize the tremendous potential of our oncology program, as well as neurology and other areas of significant unmet need.”
Joy Ghosh, PhD, of Eventide Asset Management, added, “Biosplice’s alternative splicing platform has enormous potential to address critical needs in osteoarthritis, oncology and neurology, among others. We are particularly excited by lorecivivint, which has the potential to be a first-in-class medicine that could confer both symptomatic and disease-modifying benefits to hundreds of millions of osteoarthritis sufferers worldwide.”
Biosplice is developing first-in-class, small-molecule therapeutics based on pioneering science of alternative pre-mRNA splicing. Stemming from foundational discoveries in Wnt pathway modulation, Biosplice has elucidated novel biology linking CLK/DYRK kinases to the therapeutic regulation of alternative splicing. Alternative splicing is an essential biological mechanism that regulates the diversification of proteins in a cell, which, in turn, determines cell type and function. Biosplice’s target class governs the selection of tissue-specific mRNA splice sites, making them attractive, druggable targets within the cellular “command and control” center.
Biosplice’s drugs in clinical development include lorecivivint for osteoarthritis (in Phase 3), cirtuvivint for numerous cancers, and a broad pipeline that ranges from Alzheimer’s disease to other degenerative conditions. Learn more at https://www.biosplice.com
Biosplice Therapeutics, Inc.