Character Biosciences Expands Leadership Team, Announces Series B Extension
Character Biosciences, a precision medication firm remodeling drug improvement for polygenic illnesses, right now introduced the growth of its management group with 4 senior appointments, together with Robert Kim, M.D., MBA as Chief Medical Officer, Daniel Elgort, Ph.D. as Chief Data & Analytics Officer, Josh Buddle as Head of Clinical Network and Longitudinal Research, and Jessamyn Wead as Head of People.
The firm additionally introduced an growth of its Series B financing, bringing whole capital raised within the spherical to greater than $110 million. The extra shut included participation from Sanofi Ventures, in addition to new and current buyers.
“These appointments and the extra funding mark an necessary second for Character Bio as we advance our first therapeutic applications towards the clinic,” stated Cheng Zhang, Chief Executive Officer of Character Biosciences. “The expanded management group and powerful assist from our buyers strengthen our capability to ship on our mission of reworking outcomes for sufferers with vision-threatening illnesses.”
Proceeds from the financing will allow Character Bio to additional advance the scientific improvement of CTX114, a complement inhibitor for geographic atrophy (GA), and CTX203, a lipid modulator designed to stop development to superior age-related macular degeneration (AMD). This financing follows Character Bio’s beforehand introduced $93 million Series B, led by aMoon Growth Fund and the Luma Group, alongside participation from Bausch + Lomb, Innovation Endeavors, Catalio Capital Management, S32, and extra main life sciences buyers.
“I’m thrilled to affix Character at such a pivotal time,” stated Robert Kim, M.D., MBA, Chief Medical Officer of Character Biosciences. “Dry AMD is the subsequent frontier in ophthalmology, and Character’s multidisciplinary strategy has the potential to ship therapies that really deal with the unmet wants of sufferers.”
Jason Hafler, Managing Director of Sanofi Ventures, who will be a part of Character Bio’s Board of Directors, added: “Character has constructed a compelling portfolio of precision medication applications and a novel affected person knowledge platform. We are excited to companion with the group and contribute to the continued improvement of their pipeline.”
The new executives be a part of current leaders Cheng Zhang, CEO, Laura Carter, Ph.D., CSO, Erik Karrer, Ph.D., SVP, Drug Discovery, and Kaila Smilen, MBA, Senior Director, Business Development & Corporate Strategy.
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