Catalyst Biosciences Raises $30 Million in Series B Financing

Strategic Insights -

Catalyst Biosciences, Inc., a privately held biotechnology company focused on engineering and developing therapeutic protease products, has raised $30 million in its series B financing. The investment was led by Morgenthaler Ventures, with participation from HealthCare Ventures and all of Catalyst's previous investors, including Sofinnova Ventures, Burrill & Co., RCT BioVentures, and Novartis Venture Fund. The financing will enable Catalyst to move its first two internal programs into clinical development and expand its Alterase product engine.

Key Takeaways:

  • Catalyst Biosciences has raised $30 million in series B financing, led by Morgenthaler Ventures.
  • The financing includes participation from HealthCare Ventures and all previous investors.
  • Catalyst will use the funding to move its first two internal programs into clinical development and expand its Alterase product engine.
  • The company is developing therapeutic protease products, which have been used as safe and effective therapeutic agents for over 15 years.
  • Catalyst is focused on expanding the therapeutic application of proteases through high-throughput protein engineering.
  • The company's product discovery platform includes methods to rapidly create and optimize tailor-made protease drug candidates, called Alterases.
  • Formation of new board members includes Dr. Ralph "Chris" Christoffersen of Morgenthaler Ventures and Augustine Lawlor of HealthCare Ventures.
  • Catalyst's product development efforts are focused in the areas of inflammation and cancer, where protease therapeutics have demonstrated advantages for important classes of disease targets.

Statistics:

  • $30 million raised in series B financing.
  • 15 years of use of proteases as therapeutic agents.
  • 2 internal programs to be moved into clinical development.
  • Catalyst's product discovery platform includes methods to rapidly create and optimize tailor-made protease drug candidates.

Sources:

  • NewsRx.com via Health & Medicine Week the article.
  • Morgenthaler Ventures.
  • HealthCare Ventures.
  • Sofinnova Ventures.
  • Burrill & Co.
  • RCT BioVentures.
  • Novartis Venture Fund.