CAMBRIDGE, Mass.– Be Biopharma (“Be Bio”), a pioneer in the discovery and development of Engineered B Cell Medicines (BeCM), today announced the closing of a $130 million financing, bringing the total investment in the Company to over $180 million. The proceeds will advance Be Bio’s proprietary autologous and allogeneic BeCM platforms across multiple therapeutic areas and progress pipeline candidates toward the clinic. The Series B was led by ARCH Venture Partners and joined by Bristol Myers Squibb and other new investors, alongside existing investors including Atlas Venture, RA Capital Management, Alta Partners, Longwood Fund and Takeda Ventures.
Steven Gillis, Ph.D., Managing Director at ARCH Venture Partners, joins the Board of Directors. Robert Nelsen, co-founder and Managing Director of ARCH Venture Partners and Robert Plenge, M.D., Ph.D., Senior Vice President, and Head of the Immunology, Cardiovascular and Fibrosis Thematic Research Center at Bristol Myers Squibb, join as observers.
“The human B cell produces thousands of proteins per second. Be Bio is harnessing this remarkable cell to engineer a new class of cellular medicines that produce durable therapeutic proteins in vivo with the potential ability to dose titrate, and re-dose when required, without the need for toxic pre-conditioning,” said Joanne Smith-Farrell, Ph.D., Chief Executive Officer at Be Bio. “Our pipeline spans multiple therapeutic areas, and we are inspired and humbled by the potential to transform patients’ lives. With the support of highly regarded investors and the addition of Dr. Gillis to our Board of Directors, Be Bio is in a strong position to advance novel programs across our rare disease and oncology portfolios, further develop our platform and manufacturing capabilities and expand our team.”
“Be Bio’s leadership has an exemplary record of developing and commercializing products in the cell and gene therapy field and I am encouraged by their progress since launch,” said Steven Gillis, Ph.D., Managing Director at ARCH Venture Partners. “I am pleased to join the Board and support the Company in its efforts to develop a transformative B cell platform. The untapped potential of B cell medicines is exciting, as is Be Bio’s highly modular platform that could rapidly unlock a pipeline of product candidates across a variety of serious diseases.”
Be Bio has a broad pipeline initially focused on rare disease and cancer. As the Company advances its platform, it plans to expand into additional therapeutic areas including infectious disease, neurological conditions and autoimmune disease.
