#United States #New York #AC-101 #OrbiMed #Accro Bioscience

Accro Bioscience Secures $50 Million Series C Financing

Accro Bioscience Inc. has officially announced the closure of its recent funding round, raising $50 million in Series C financing aimed at advancing their clinical pipeline targeting immune mediated diseases. This effort is led by prominent healthcare investment firm OrbiMed, alongside participation from TCG Crossover, LAV, Cenova Capital, and existing backers such as Shenzhen Capital Group and Oriza Holdings.

Funding Purpose

The capital raised in this financing round is earmarked primarily for supporting the Phase IIb clinical trial of Accro's innovative treatment candidate, AC-101. This promising drug is a selective RIPK2 inhibitor designed to address Ulcerative Colitis (UC), a debilitating inflammatory bowel disease affecting millions worldwide. Furthermore, the funds will also facilitate the progression of other therapeutic candidates within Accro's multifaceted pipeline, addressing various conditions that fall under the broader umbrella of immune mediated diseases.

Statements from Leadership

Dr. Xiaohu (Jason) Zhang, Co-founder and CEO of Accro Bioscience, remarked on the pivotal role of their investors, stating, “At Accro Bioscience, we are dedicated to providing innovative oral treatments for the many patients suffering from immune mediated diseases. We are incredibly grateful for the ongoing support from our investors who share our vision.”

Steven Wang, Ph.D., CFA, a Partner at OrbiMed, expressed his confidence in Accro's approach, highlighting the company’s innovative pipeline, scientific expertise, and proven track record in execution. Wang emphasized that OrbiMed is eager to assist Accro in accelerating their global clinical development efforts.

Understanding AC-101

AC-101 represents a groundbreaking approach to treating moderate-to-severe Ulcerative Colitis. This drug operates through targeting the receptor interacting protein kinase 2 (RIPK2), which plays a significant role in the NOD signaling pathway linked to various inflammatory and autoimmune diseases. Accro Bioscience developed AC-101 using a proprietary drug discovery platform that focuses on regulatory cell death and related inflammation processes.

The previous Phase I trials in Australia and China, conducted on healthy participants, showed promising safety and pharmacokinetic/profiling data for AC-101. Additionally, the completion of a Phase Ib/IIa proof-of-concept study among Chinese individuals with Ulcerative Colitis marks a crucial milestone, validating the drug's potential. Recently, the company obtained Investigational New Drug (IND) clearance from the U.S. FDA to initiate a Phase II clinical trial for AC-101.

About Accro Bioscience

Based in the United States, Accro Bioscience Inc. is dedicated to pioneering novel therapeutics targeted at inflammatory and autoimmune disorders. The organization focuses on tapping into the molecular mechanisms underlying regulatory cell death, thereby contributing to the development of treatment options that can significantly improve the quality of life for affected patients. The robust pipeline of first and best-in-class compounds from Accro bioscience aims to deliver groundbreaking treatments that could reshape the landscape of medical therapies for immune mediated diseases.

For additional details, please refer to Accro Bioscience’s official website at www.accropeutics.com.

About OrbiMed

OrbiMed stands as a significant player in the global healthcare investment landscape, boasting over $19 billion in assets under its management. The firm strategically invests across the healthcare value chain - from startups to established multinationals - through a diversified portfolio including private equity, public equity, and royalty/credit funds. Their commitment is to offer tailored financial solutions alongside extensive international resources, facilitating the growth of leading healthcare companies. For more information, visit www.orbimed.com.