Landos Biopharma, Inc. Raises
$10 Million in Series A Financing
Blacksburg-based Landos Biopharma receives $10 million in series A financing to advance development of novel therapeutics for patients with autoimmune diseases.
Participating in Gov. McAuliffe’s “Top 3 by 2023”
BLACKSBURG, VA, September 21, 2017 – Landos Biopharma, Inc. announced today it has raised $10 million in a Series A financing led by life sciences investment NYC-based management firm Perceptive Advisors, LLC, which will serve as its exclusive investor for the Series A round. Landos is an emerging biopharmaceutical company focused on the discovery and development of innovative first-in-class, oral therapeutics for patients with autoimmune diseases.
“I congratulate Landos on receiving funding for its promising work,” says Virginia Congressman Morgan Griffith, “which has the potential to bring relief for those suffering from painful autoimmune diseases.”
Landos, founded by serial entrepreneur and innovator Dr. Josep Bassaganya-Riera, is advancing a robust pharmaceutical pipeline for autoimmune diseases toward commercialization and will partner operational efforts with Boston-based Xontogeny, LLC, a life-sciences accelerator that partnered with Perceptive earlier in 2017. Xontogeny partners with companies to support management teams and provide expertise in the early stages of pharmaceutical and biotechnology development.
“We have a committed leadership team with industry experience focused on developing oral treatments that address an unmet clinical need of patients looking for safer, more effective oral therapeutics, and can disrupt the $9.2 billion per year inflammatory bowel disease (IBD) therapeutics market. But most importantly we believe we can improve the lives of millions of patients living with these diseases,” said Bassaganya-Riera, the Landos Chairman and CEO.
Current therapies for autoimmune diseases, a $100 billion market, have limited efficacy and significant side effects. Landos’ mission is to accelerate the development of safer, more effective therapeutics for painful and debilitating autoimmune diseases including Crohn’s disease and ulcerative colitis.
“I am pleased that Landos Biopharma Inc. has announced it is raising $10 million dollars for the development of a treatment for Crohn’s disease and ulcerative colitis,” said Virginia State Senator John Edwards. “Landos is an emerging biopharma company focusing on developing oral therapies for auto immune diseases. I have visited their facility at the Corporate Research Center in Blacksburg, and I am delighted at the progress they are making in this field.”
The company Chairman and CEO, Josep Bassaganya-Riera, and his company have been active members of Virginia Bio, which is a statewide group that supports the planning behind the Governor’s 2015 Virginia Bioscience Initiative. This initiative calls for Virginia to be in the top three pharmaceutical regions by 2023. Dr. Bassaganya-Riera is also a prominent member of the Blacksburg community and was a featured presenter at the Governor’s Forum on Bio and Big Data in Northern Virginia two years ago.
“I am very excited about the Series A financing for Landos Biopharma, Inc,” said Virginia Delegate Nick L. Rush. “This additional capital moves them closer to market with their innovative biopharmaceuticals. These are the types of advancements that will help diversify the New River Valley’s economy.”
The Landos technology has received non-dilutive funding from NIH SBIR/STTR, the Velocity program, and the Virginia Catalyst, with the vision of advancing life sciences throughout Virginia as a means of addressing large unmet medical needs to improve human health.
“Landos is at the cusp of the next frontier in precision medicine and healthcare innovation. I am excited to see the future work of the Landos team on critical and unmet clinical needs for oral therapeutics for autoimmune disease patients. Josep, Landos’ Founder, is a world-class innovator and his work in Landos could improve the quality of life for a millions number of individuals across the globe.” Said Virginia Delegate Joseph R. Yost.
For more information about Landos Biopharma, visit www.landosbiopharma.com.
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About Landos Biopharma, Inc.
Landos Biopharma, Inc. is an emerging biopharmaceutical company focused on the discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases. Landos’ lead clinical asset, BT-11, is a novel, locally-acting small molecule targeting inflammatory bowel disease (IBD) that is expected to enter clinical testing for Crohn’s disease in 2018. Landos also has a robust pipeline of compounds for other autoimmune diseases. Landos is headquartered in Blacksburg, VA. For more information, please visit www.landosbiopharma.com or contact info@landosbiopharma.com
About Xontogeny, LLC
Based in Boston, MA, Xontogeny seeks to accelerate the development of life science technologies by providing entrepreneurs with the leadership, strategic guidance and
