Abcuro Secures $200 Million in Series C Funding to Advance Ulviprubart for Inclusion Body Myositis
Funding was led by New Enterprise Associates, with participation from Foresite Capital and multiple other investors.
Image Credit: Adobe Stock Images/Kiattisak
Abcuro announced that it has obtained $200 million in Series C financing, led by New Enterprise Associates, to advance ulviprubart (ABC008), a first-in-class monoclonal antibody targeting KLRG1 for the treatment of inclusion body myositis (IBM). According to the company, funding will support the completion of the registrational Phase II/III MUSCLE clinical trial, with initial data expected in the first half of 2026. Additional financers included Foresite Capital; RA Capital Management; Bain Capital Life Sciences; Redmile Group; Samsara BioCapital; Sanofi Ventures; Pontifax; Mass General Brigham Ventures; New Leaf Ventures; funds managed by abrdn Inc.; funds and accounts managed by BlackRock; Eurofarma Ventures; and Soleus Capital.1
“Continued support from all of our investors in this latest financing round validates our vision for the potential that ulviprubart may have as a novel treatment for progressive and devastating diseases mediated by highly cytotoxic T cells, including inclusion body myositis” said Alex Martin, CEO, Abcuro, in a press release. “We are in a strong position to execute on our clinical development plan, including completing our ongoing, registrational Phase II/III MUSCLE clinical trial of ulviprubart in IBM, and expect to report initial data in the first half of 2026. We will also look to fund the expansion of manufacturing capabilities and other pre-commercial activities this year.”
Abcuro stated that if the trial is successful, it will file a Biologics License Agreement and prepare for commercial launch. Additionally, the investment will facilitate manufacturing expansion and pre-commercial activities.1
According to Orpha, the prevalence of IBM ranges from 1/14,000-1,000,000 people. Onset is most common in patients over 50 years of age, but it can begin at an earlier age. In most cases, male to female ratio is 2:1.2
“Abcuro represents an exciting opportunity with its lead candidate, ulviprubart, a potential first-in-class therapy that could make a big impact to the treatment paradigm of IBM, an indication with a significant unmet clinical need,” said Michele Park, PhD, partner, NEA, in the press release. “Ulviprubart targets a unique mechanism that can selectively deplete cytotoxic T cells, backed by encouraging clinical and preclinical data that have been presented to date.”
References
1. Abcuro Announces $200 Million Series C Financing to Advance Its First-In-Class Medicine in Development for Inclusion Body Myositis. Abcuro. February 12, 2025. Accessed February 12, 2025. https://abcuro.com/uncategorized/abcuro-announces-200-million-series-c-financing-to-advance-its-first-in-class-medicine-in-development-for-inclusion-body-myositis/
2. Inclusion body myositis. Orpha. Accessed February 12, 2025. https://www.orpha.net/en/disease/detail/611#:~:text=Inclusion%20body%20myositis%20(IBM)%20has,0.5%20to%206.5:1).
