Policy & Regulation
Landos Biopharma Completes USD 60m Series B Financing
14 August 2019 - - US-based clinical-stage biopharmaceutical company Landos Biopharma, Inc has completed its USD 60m series B financing round, the company said.

The financing was co-led by RTW Investments and Perceptive Advisors (Perceptive Xontogeny Venture Fund and Perceptive Life Sciences Fund), and joined by additional new investors, including Osage University Partners and PBM Capital.

This financing will support Landos' Phase 2 global clinical trials for BT-11 in ulcerative colitis and Crohn's disease. BT-11 is a first-in-class, oral, gut-restricted small molecule therapeutic with a unique mechanism of action that targets a novel pathway called Lanthionine Synthetase C-Like 2 (LANCL2).

Results from Landos' Phase 1 clinical trial (published in May 2019 in the IBD Journal) demonstrated that the compound was well-tolerated.

Fecal calprotectin levels, which the company believes is a predictive biomarker of response to treatment in IBD, were lower in all BT-11-treated groups when compared to placebo. The company believes this activity provides initial biomarker evidence of response to treatment.

Landos Biopharma, Inc. is a clinical-stage 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 first-in-class, oral therapeutic that acts locally in the gastrointestinal tract for treatment of inflammatory bowel disease.

The company has completed Phase 1 clinical testing and has initiated Phase 2 clinical testing of BT-11 for inflammatory bowel disease in 2019.

Landos also has a pipeline of new compounds for other autoimmune diseases, several of which Landos anticipates will advance to IND and Phase 1 clinical testing in 2020. Landos is headquartered in Blacksburg, VA.

RTW is a New York-based investment firm that focuses on identifying transformational and disruptive innovations in healthcare. As a partner of industry and academia, RTW utilises deep scientific expertise and a rigorous and comprehensive process to support emerging medical therapies.

Founded in 1999 and based in New York, NY, Perceptive Advisors is an investment management firm focused on supporting the progress of the life sciences industry by identifying opportunities and directing financial resources to the most promising technologies in healthcare.

Established in 2018, the Perceptive Xontogeny Venture Fund (PXV Fund) was established as one of Perceptive Advisors funds that is focused purely on private investments in early stage life sciences companies.

A primary source of investments for the PXV Fund are companies that are seeded, incubated, and/or actively managed by Xontogeny, a life sciences accelerator that provides experienced operational support to successfully and efficiently advance early stage companies.