Scout Bio Closes $33 Million Series B2 Financing to Advance its Portfolio of Single Injection Gene Therapy Technology for the Treatment of Chronic Diseases in Pets
– Proceeds to support advancing single injection Adeno-Associated Viral (AAV) vector therapeutics targeting chronic companion animal diseases including diabetes, pain, and anemia associated with chronic kidney disease (CKD)
– New investors to the syndicate include leading healthcare investment firm OrbiMed
Philadelphia, PA – October 19, 2021 – Scout Bio, a biotechnology company focused on revolutionizing pet medicine by delivering a pipeline of one-time AAV gene therapies for major chronic pet health conditions, today announced the closing of a Series B2 financing, which raised a total of $33.0 million. This financing round included new investors, including OrbiMed and a major animal health company, along with existing Series B1 investors: Digitalis Ventures, Frazier Healthcare Partners, RiverVest Venture Partners, Greenspring Associates, Adage Capital Management and Correlation Ventures. Proceeds from the financing will advance the clinical development of Scout Bio’s lead product candidates targeting diabetes, feline pain associated with osteoarthritis and CKD-associated anemia, in addition to research efforts in further indications.
“We are pleased to welcome the validating support of world-class investors who share our excitement for innovation in veterinary medicine. The financial commitment from our broadened investor base will enable us to further deliver on the clinical development of our programs in a number of conditions, such as diabetes and chronic pain,” said Mark Heffernan Ph.D., Chief Executive Officer at Scout Bio. “We are very excited to have recently generated meaningful clinical data in patients with CKD-associated anemia, proving that AAV gene therapy can be efficacious in client owned animals with chronic diseases. Scout Bio is on target to deliver on our platform over the next twelve months, making single-shot therapies expressing validated protein therapeutics a reality in veterinary medicine.”
About Scout Bio
Scout Bio is a biotechnology company revolutionizing pet medicine by delivering a pipeline of one-time gene therapies for major chronic pet health conditions. Scout Bio’s therapeutics are designed to induce long-term expression of therapeutic proteins in pet patients using AAV vector technology. Scout Bio has a research and development collaboration with the University of Pennsylvania’s Gene Therapy Program, a leader in the field of genetic medicine research. Scout Bio is a private company headquartered in Philadelphia, Pennsylvania. For more information, see www.scoutbio.co
OrbiMed is a leading healthcare investment firm, with $19 billion in assets under management. OrbiMed invests globally across the healthcare industry, from start-ups to large multinational corporations, utilizing a range of private equity funds, public equity funds, and royalty/credit funds. OrbiMed maintains offices in New York City, San Francisco, Shanghai, Hong Kong, Mumbai and Herzliya. OrbiMed seeks to be a capital provider of choice, providing tailored financing solutions and global team resources and support to help build world-class healthcare companies.
For further information, please contact: