Autoimmunity BioSolutions, a Houston, TX-based biotechnology company advancing immuno-corrective therapies, raised $2M in Seed funding.
The round was led by Eos BioInnovation, with participation from Alexandria Venture Investments, Independent Capital and others.
The company intends to use the funds to enhance the development of its lead program, which consisted of monoclonal antibodies specifically targeting sIL7R while sparing membrane-bound IL7R.
Led by Eugene Williams, CEO, and Gaddiel Galarza-Munoz, CSO, Autoimmunity BioSolutions (ABS) is a seed-stage biotech developing a next-generation, immuno-corrective antibody therapy for treatment of autoimmune diseases to restore normal immune function. This therapy is targeted to a genetically-defined subpopulation of autoimmune disease patients marked by a highly prevalent genetic variant (SNP) associated with increased risk and severity of various autoimmune diseases. This immuno-corrective approach to autoimmune disease treatment is highly differentiated from current standards of care that rely on immunosuppressive mechanisms, and has broad potential to treat numerous autoimmune diseases.
Commenting on the news, Gene Williams said: “I am thrilled to be part of this outstanding team in the effort to develop therapies that could be transformative for many patients with autoimmune disease and want to thank our outstanding group of investors for their support. ABS is in the forefront of a next generation of transformative therapies correcting the genetic drivers of disease in a genetically-defined population. Based on the known epidemiology and biology, we expect our therapies will have value in severe disease populations that are challenging to treat, such as progressive MS or lupus nephritis, where we might see efficient early proof of concept and possibly a rapid path to approval. In addition, we plan to collaborate with leaders in the field to explore the possibility that genetically-defined immuno-corrective therapy such as ours, with its likely safety advantages over current standards of care, could emerge as first line concomitant therapy for all patients with the SNP, to mitigate risk of disease progression as well as treat severe disease, and possibly to reduce the need for immunosuppression.”
