Artizan, a Yale University spinout focused on intestinal microbiota targets potentially responsible for inflammatory bowel disease, has been backed by investors including Brii Biosciences, bringing its total funding to $12m.
Artizan, a US-based inflammatory disease therapy spinout of Yale University targeting the intestinal microbiota, yesterday closed a series A round of undisclosed size that included medicines supplier Brii Biosciences.
While Artizan did not confirm the size of the investment, it noted it had now obtained a total of $12m in funding. The spinout secured $5m in funding in March 2019, according to a securities document.
Brii Biosciences invested as part of a collaboration deal with Artizan. The round’s other participants were not disclosed, though members of its existing investment consortium were named in the press release.
Founded in 2016, Artizan is conducting preclinical research on medicines for inflammatory bowel disease that target intestinal bacteria thought to make the body more prone to developing the condition. The drugs will be designed using its IgA-SEQ development platform.
Artizan’s pact with China-based Brii Biosciences will enable Brii to commercialise three IgA-SEQ drug programs in its home market once the programs have attained clinical proof-of-concept.
The series A capital will go to continued preclinical research, in the hope of identifying additional disease targets for Artizan’s program. Paul Miller, a former vice-president of infection biology at pharmaceutical firm AstraZeneca, has been appointed chief scientific officer.
Investment firm Malin Corporation bought a 32% stake in Artizan in 2017 as part of a round of undisclosed size that also included Hatteras Venture Partners, after Artizan had raised $3m in equity and other financial instruments in 2016 from unnamed investors, according to a regulatory filing.
Hatteras led a series A round in the same year with participation from early-stage venture fund Elm Street Ventures and undisclosed institutional and strategic investors, according to Elm Street’s website, though it was unclear whether this related to the above two deals.
Johnson & Johnson Innovation–JJDC, the external innovation and investment arm of healthcare firm Johnson & Johnson, was named as an existing investor in the series A announcement.
