What is PhaseBio Pharmaceuticals?
PhaseBio Pharmaceuticals operates as a clinical-stage biopharmaceutical entity dedicated to the discovery and development of innovative treatments for cardiopulmonary diseases. The company distinguishes itself through its proprietary elastin-like polypeptide (ELP) technology, which facilitates the creation of therapies characterized by improved pharmacokinetics and reduced dosing frequency. Its lead candidate, PB2452, serves as a specialized reversal agent for ticagrelor, while its secondary candidate, PB1046, addresses pulmonary arterial hypertension. By focusing on high-unmet-need therapeutic areas, PhaseBio maintains a competitive position within the life sciences sector, supported by a sophisticated network of strategic partners and institutional investors.
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, Catalysta Ventures, and Dr. Howard Clark
Series B (2012): $54.6M led by Fletcher Spaght Ventures, OSI Investment Management, New Enterprise Associates, Hatteras Venture Partners, and Johnson & Johnson Development Corporation
Series C (2015): $40M supported by AstraZeneca, Hatteras Ventures Partners, Johnson & Johnson Development Corporation, NEA, and Fletcher Spaght Ventures
Debt (2017): $7.5M featuring Silicon Valley Bank
Debt (2017): $22.8M backed by NEA, Fletcher Spaght Ventures, Syno Capital, AstraZeneca, Hatteras Venture Partners, and Johnson & Johnson Development Corporation
Grant (2018): $2.8M with participation from National Institutes of Health
Series D (2018): $34M led by Fletcher Spaght Ventures, Mountain Group Partners, New Enterprise Associates, Rock Springs Capital, Syno Capital, AstraZeneca, Hatteras Venture Partners, Cormorant Asset Management, and Johnson & Johnson Development Corporation
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
AstraZeneca
AstraZeneca PLC is a global, science-led biopharmaceutical company focused on the discovery, development and commercialisation of prescription medicines across oncology, cardiovascular, and rare disease portfolios.
Johnson & Johnson Development Corporation
Johnson & Johnson is a global healthcare leader that develops pharmaceuticals and medical technologies, providing innovative solutions in oncology, immunology, and cardiovascular care.
New Enterprise Associates
Established in 1977, New Enterprise Associates is a prominent venture capital firm focused on helping entrepreneurs build transformative businesses across the technology and healthcare sectors.
What's next for PhaseBio Pharmaceuticals?
With the recent capital deployment, PhaseBio Pharmaceuticals is positioned to accelerate its clinical trial milestones and refine its manufacturing processes for its ELP-based product candidates. The strategic focus remains on navigating the regulatory landscape to bring PB2452 and PB1046 closer to market readiness. Future growth will likely be defined by the successful execution of late-stage clinical studies and the potential for further collaborative development agreements, leveraging the firm's established relationships with global biopharmaceutical leaders to maximize the therapeutic and commercial impact of its pipeline.
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