Jade Biosciences, Inc., a biotech company focused on innovative treatments for autoimmune diseases, has announced the successful completion of an $80 million financing round. This round was led by Fairmount and Venrock Healthcare Capital Partners, with additional participation from Deep Track Capital, Driehaus Capital Management, Franklin Templeton, RTW Investments, and Braidwell LP. The funds will be directed towards advancing Jade's targeted therapies for significant unmet needs in inflammation and immunology.

The company has appointed Andrew King, D.V.M., Ph.D., as its Chief Scientific Officer. Dr. King brings over 15 years of experience in the biotech and pharmaceutical sectors, previously serving as the Chief Scientific Officer at Chinook Therapeutics. There, he led teams in discovery research, non-clinical development, and translational medicine, and played a crucial role in clinical development strategy.

Dr. King commented on the company's prospects, saying, “We believe our preclinical assets, developed by the skilled team at Paragon, have the potential to significantly impact treatment options for autoimmune diseases. With the backing of our investors, we are excited to advance these transformative therapies for patients.”

Jade is the fourth company established based on assets from Paragon Therapeutics, following Apogee Therapeutics, Spyre Therapeutics, and Oruka Therapeutics.

 

Source: prnewswire.com

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