Key Highlights
- GRO Biosciences raises $60.3M in Series B financing.
- Funds to advance lead program for refractory gout treatment.
- Expansion of genomically recoded organism (GRO) platform.
- Total capital raised now exceeds $90 million.
- New board members from Atlas Venture and Access Biotechnology.
Source: Business Wire
Notable Quotes
- “Having proved our therapeutic approach preclinically and demonstrated scalability of our GRO platform, we have assembled the ideal team to advance GRObio to a clinical-stage company.” — Dan Mandell, PhD, CEO at GRO Biosciences
- “GRObio has built the industry-leading platform for discovery and production of therapeutics with non-standard amino acids. The Company has a clear and differentiated path to multiple commercial opportunities.” — Kevin Bitterman, PhD, Partner at Atlas Venture
- “GRObio’s ProGly programs offer novel solutions to patients with few, if any, viable treatment options. By partnering with GRObio we look forward to bringing significant improvements in quality of life to patients in need across the full range of indications accessible to the GRO platform.” — Dan Becker, MD, PhD, Managing Director at Access Biotechnology
SoHC's Take
The successful closing of a $60.3 million Series B financing round is a significant milestone for GRO Biosciences, reflecting strong investor confidence in its innovative approach to protein therapeutics. This funding not only propels the company’s lead program for refractory gout into clinical trials but also facilitates the expansion of its pioneering GRO platform. By incorporating non-standard amino acids, GRObio is at the forefront of developing next-generation therapeutics with enhanced efficacy and safety profiles. The addition of esteemed board members from Atlas Venture and Access Biotechnology underscores the strategic direction and potential for substantial growth and impact in the biotech sector. This financing round positions GRObio to make groundbreaking advancements in treating severe and complex diseases, promising improved patient outcomes and a robust pipeline for future developments.
