BridgeBio Pharma, a clinical-stage biopharmaceutical firm focused on the development of medicines for genetic diseases, has secured $299.2m funds to advanced its existing drug research and development programs.
BridgeBio Pharma will also use the funds to expand its efforts on the development of medicines for patients with unmet needs.
Both existing investors KKR and Viking Global Investors led the financing round, and Perceptive Advisors, AIG, Aisling Capital, Cormorant Capital, and Hercules Capital are the other existing investors participated in the round. New investors such as Sequoia Capital also participated in the financing round.
A team of drug research and development veterans from both the biotech industry and academia have established BridgeBio Pharma in 2015.
The company aims to convert novel scientific discoveries from universities, academic medical centers, and pharmaceutical research groups into genetically-targeted therapeutics to address the fundamental causes of disease.
BridgeBio Pharma’s portfolio is comprised of more than 15 assets, including various products in the pre-clinical stages of development and four programs in or approaching pivotal trials.
The portfolio assets cover therapeutic areas such as genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease and ophthalmology.
Transthyretin amyloidosis (ATTR-CM and ATTR-PN), pantothenate kinase-associated neurodegeneration (PKAN), Gorlin syndrome and frequent basal cell carcinomas, dystrophic epidermolysis bullosa (DEB), Darier and Hailey-Hailey diseases, Netherton syndrome, venous malformations, Canavan disease, Leber’s hereditary optic neuropathy, molybdenum cofactor deficiency Type A, achondroplasia, and FGFR, SHP-2 and K-RAS-driven cancers are some of the specific indications targeted.
BridgeBio Pharma founder and CEO Dr Neil Kumar said: “We are privileged to be working with investors who believe in our goal of creating medicines for patients with genetic disease. We are aware that many of these patients lack effective treatment options, and we take our mission to help them seriously.
“The path from promising early-stage science to a drug that makes a difference for patients requires a long-term vision and steady commitment. We are fortunate to have our investors’ support as we develop these treatments.”