Amid a bustling fundraising week for biotechs, the U.K.’s RQ Bio is adding $115 million to its coffers to advance a long-acting antibody for flu prevention.
RQ Bio’s series A raise, unveiled on Wednesday, will help the company propel its lead program, RQB01, into clinical testing next year.
RBQ01 is designed to deliver “potent and broad” protection against influenza, leveraging a “differentiated dual mechanism of action targeting conserved epitopes resilient to seasonal variation,” the biotech said in a June 24 press release.
Such a profile could deliver a meaningful advance in influenza protection for vulnerable individuals, the company believes. The candidate is currently in IND-enabling studies.
Additionally, RQ Bio plans to use the funds to “advance our proprietary antibody discovery approach towards a pipeline of assets for prophylaxis of respiratory viral diseases,” the company said.
Frazier Life Sciences led the fundraise, with participation from new and existing investors EQT Life Sciences, Forbion, Monograph, Wellington Management, LifeArc Ventures, Oxford Science Enterprises and the University of Oxford. RQ Bio was founded several years ago by U.K. scientists and LifeArc Ventures, according to the release.
Despite the ubiquity of mass-market influenza vaccines, biotechs have continued to work on potential antibody rivals for flu prevention. Besides RQ Bio’s effort, Cidara’s late-stage CD388 asset has delivered data strong enough to attract a $9.2 billion takeover by Merck.
And on the vaccination front, Moderna is looking to change the game with its mRNA alternative to existing egg- and cell-based offerings. The company is awaiting an FDA verdict on its program after its application package won the support of an advisory committee last week.
Meanwhile, this week has featured several high-profile biotech fundraising rounds. In addition to the RQ Bio news, eye disease biotech Ollin today unveiled a $330 million series B. Yesterday, Sephara launched with $230 million in funding commitments and Ossani put out word that it raised $190 million. Before that, Nura Bio kicked off the week with a $74 million series B.