Connecticut-based Rallybio, focused on developing therapies for severe and rare disorders, announced the completion of a $145 million Series B financing led by Pivotal bioVenture Partners. New investors participating in the financing include Viking Global Investors, TPG’s The Rise Fund, F-Prime Capital, funds managed by Tekla Capital Management LLC, Solasta Ventures, Fairview Capital, and Mitsui & Co. Global Investment Inc. The Company’s existing investors, 5AM Ventures, Canaan Partners, New Leaf Venture Partners and Connecticut Innovations, also participated in the financing.
“Rallybio has assembled an impressive team of experienced leaders and drug developers and has built a robust pipeline of unique assets that could potentially transform a number of rare diseases,” said Rob Hopfner, Managing Partner of Pivotal bioVenture Partners. “We are excited to partner with Rallybio and to support their efforts as they work aggressively to bring these therapies forward.”
The funding will be used to advance Rallybio’s lead program RLYB211, a plasma-derived hyperimmune globulin acquired from Norway’s Prophylix A S. RLYB211 is in development for the prevention of fetal and neonatal alloimmune thrombocytopenia (FNAIT), a potentially life-threatening rare disease that can cause uncontrolled bleeding in fetuses and newborns. RLYB211 is designed to prevent FNAIT through a mechanism known as antibody-mediated immune suppression. There is currently no approved therapy for the prevention or treatment of FNAIT. Rallybio plans to initiate a Phase 1/2 clinical study of RLYB211 in the second half of 2020. Orphan Drug Designation has been granted by the U.S FDA and the European Medicines Agency, and a Rare Pediatric Disease designation has been granted by the FDA.
The financing will also be used to advance the development of other assets in the company’s portfolio, including RLYB212, which is in preclinical development to address a rare hematologic disease, and three preclinical protein therapeutics for the treatment of rare immuno-inflammatory diseases. The company’s portfolio also includes a discovery-stage program targeting a rare metabolic disease. The discovery program is part of a joint venture with U.K.-based Exscientia, an artificial intelligence-driven drug discovery company focused on accelerating the discovery and development of small molecule drug therapeutics for the treatment of patients with rare diseases.