Catalyst gets $40.4M for protease therapeutics work

Catalyst Biosciences has raised a hefty $40.4 million in a Series C financing round. New investor Essex Woodlands Health Ventures led the round, with participation from existing investors Burrill & Company, HealthCare Ventures, Johnson & Johnson Development Corporation, Morgenthaler Ventures, Novartis BioVentures and Sofinnova Ventures.

Catalyst has been developing engineered proteases known as Alterase therapeutics which target proteins that play a role in disease. Its initial programs target hemophilia, age-related macular degeneration, oncology and inflammation.

"Catalyst's protease therapeutics platform has the potential to deliver a new class of biologics addressing numerous diseases. The company has made excellent progress in the establishment of their discovery capabilities and the progress of their pipeline," said new board member Jeff Himawan, Ph.D., from Essex Woodlands.

"The financing provides us with several years of funding that will allow us to build our pipeline of Alterase therapeutics including advancing our lead protease, CB 813, an improved factor VIIa product for the treatment of acute bleeding in hemophiliacs, through Phase 1/2 proof-of-concept studies in patients," said CEO Nassim Usman.

- read Catalyst's release [1]

ALSO: Chromatin has completed a Series C financing round of $12.4 million, led by Quantitative Financial Strategies and joined by the Malaysian Life Sciences Capital Fund and Chromatin's existing investors Burrill & Company, Venture Investors, Unilever Technology Ventures, Foragen Technology Ventures, and Illinois Ventures. Release [2]

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