Timberlyne Therapeutics Launches with $180M Series A to Develop Anti-CD38 Antibody
Deal News | Jan 09, 2025 | Abingworth LLP
Timberlyne Therapeutics, a clinical-stage biopharmaceutical company, has successfully secured $180 million in Series A financing to advance CM313, their novel monoclonal antibody aimed at treating diseases with high unmet medical needs. The funding is spearheaded by key investors such as Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners, with additional contributions from Boyu Capital, Lilly Asia Ventures, Braidwell LP, and 3H Health Investment. Timberlyne was founded in collaboration with Keymed Biosciences, which will continue to hold development rights within China, but Timberlyne will manage rights elsewhere globally. CM313 has showcased significant potential, demonstrating a 95% response rate in a pivotal study published in the New England Journal of Medicine. Timberlyne aims to harness this therapeutic's capabilities across a spectrum of autoimmune diseases and cancers, underpinned by a licensing agreement with Keymed that includes payments and equity exchanges.
Sectors
- Biopharmaceuticals
- Healthcare
- Private Equity
Geography
- United States – Timberlyne Therapeutics is based in San Diego, where the Series A financing round was announced.
- Greater China – Keymed Biosciences retains the development and commercialization rights for CM313 within greater China.
Industry
- Biopharmaceuticals – The article centers around Timberlyne Therapeutics, a biopharmaceutical company focused on developing novel therapies for diseases of high unmet medical needs.
- Healthcare – The focus of the article is on the healthcare industry, as Timberlyne Therapeutics works to advance therapies for autoimmune disorders and cancers.
- Private Equity – Private equity firms like Abingworth and others have led the Series A financing round in Timberlyne Therapeutics, emphasizing investment activity in the healthcare sector.
Financials
- $180 million – Series A financing raised by Timberlyne Therapeutics.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Timberlyne Therapeutics | Target | Company | Timberlyne Therapeutics is a clinical-stage biopharmaceutical company developing innovative therapies. |
| Abingworth LLP | Investor | Company | A lead investor in the $180 million Series A financing for Timberlyne Therapeutics. |
| Bain Capital Life Sciences | Investor | Company | Co-led the Series A financing round for Timberlyne Therapeutics. |
| Venrock Healthcare Capital Partners | Investor | Company | Co-led the Series A financing for Timberlyne Therapeutics. |
| Keymed Biosciences | Licensing Partner | Company | Provided development and commercialization rights for CM313 outside of greater China to Timberlyne. |
| Mountainfield Venture Partners | Company Creator | Company | In partnership with Keymed, formed Timberlyne Therapeutics. |