What is PhaseBio Pharmaceuticals?
PhaseBio Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company dedicated to creating and commercializing innovative treatments for cardiopulmonary diseases. The company's core focus lies in its proprietary elastin-like polypeptide (ELP) technology platform, which aims to enhance drug pharmacokinetics and enable less-frequent administration schedules. Its primary development candidate, PB2452, is a novel reversal agent for the antiplatelet medication ticagrelor. Additionally, PhaseBio is advancing PB1046, an ELP-based therapy targeting pulmonary arterial hypertension with a once-weekly dosing regimen.
How much funding has PhaseBio Pharmaceuticals raised?
PhaseBio Pharmaceuticals has raised a total of $389.2M across 11 funding rounds:
Series A
$25K
Series B
$54.6M
Series C
$40M
Debt
$7.5M
Debt
$22.8M
Multiple Rounds
$79.8M
Debt
$15M
Stock Offering
$49.5M
Other Financing Round
$120M
Series A (2002): $25K with participation from Ashutosh Chilkoti, Clay Thorp, Dr. Howard Clark, and Catalysta Ventures
Series B (2012): $54.6M led by New Enterprise Associates, OSI Investment Management, Hatteras Venture Partners, Johnson & Johnson Development Corporation, and Fletcher Spaght Ventures
Series C (2015): $40M supported by AstraZeneca, Johnson & Johnson Development Corporation, Hatteras Ventures Partners, NEA, and Fletcher Spaght Ventures
Debt (2017): $7.5M featuring Silicon Valley Bank
Debt (2017): $22.8M backed by AstraZeneca, Hatteras Venture Partners, Syno Capital, Johnson & Johnson Development Corporation, NEA, and Fletcher Spaght Ventures
Grant (2018): $2.8M with participation from National Institutes of Health
Series D (2018): $34M led by Mountain Group Partners, AstraZeneca, Hatteras Venture Partners, Cormorant Asset Management, Rock Springs Capital, Syno Capital, Johnson & Johnson Development Corporation, New Enterprise Associates, and Fletcher Spaght Ventures
Stock Issuance/Offering (2018): $43M supported by Undisclosed
Debt (2019): $15M featuring Silicon Valley Bank and WestRiver Innovation Lending Fund
Stock Issuance/Offering (2019): $49.5M backed by Undisclosed
Other Financing Round (2020): $120M with participation from SFJ Pharmaceuticals
Key Investors in PhaseBio Pharmaceuticals
National Institutes of Health
The National Institutes of Health (NIH) is a primary agency of the U.S. Department of Health and Human Services, responsible for biomedical and health-related research, providing crucial grants that support scientific advancement.
Silicon Valley Bank
Silicon Valley Bank (SVB) is a financial institution offering a comprehensive suite of banking and financial services tailored for the innovation economy, including venture debt and commercial banking solutions.
AstraZeneca
AstraZeneca is a global biopharmaceutical company focused on the discovery, development, and commercialization of prescription medicines, particularly in oncology and bio-pharmaceuticals, indicating a strategic interest in therapeutic innovation.
What's next for PhaseBio Pharmaceuticals?
With the recent influx of major strategic capital, PhaseBio Pharmaceuticals is poised for accelerated development and potential commercialization of its therapeutic candidates. The company's focus on addressing unmet needs in cardiopulmonary diseases, coupled with its innovative ELP platform, positions it for significant growth. Future strategic moves will likely involve advancing clinical trials for PB2452 and PB1046, potentially seeking further investment or partnerships to support late-stage development and market entry, and continuing to explore the therapeutic potential of its ELP technology.
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