LOCAL MONEY: Landos Biopharma Raises $60 Million

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Blacksburg, Va based Landos Biopharma,Inc., raised $60 million in Series B funding.

This funding round for the clinical-stage biopharmaceutical startup was raised by leaders RTW Investments, and Preceptive Advisors.   Osage University Partners, along with Paul Manning‘s affiliated entities.

The financing will support Landos’ Phase 2 global clinical trials for BT-11 in ulcerative colitis and Crohn’s disease.

“I am delighted to announce the closing of a $60 million Series B financing,” said Dr. Josep Bassaganya-Riera, Chairman of the Board, President, and CEO of Landos, in a statement.  “This financing is an important part of our strategy to advance lead product BT-11 into global Phase 2 clinical trials for ulcerative colitis and Crohn’s disease. There is an unmet clinical need for new therapies for complex diseases such as Inflammatory Bowel Disease. We are pleased that our investors share Landos’ mission of accelerating drug development and serving the unmet needs of millions of patients living with these widespread and debilitating conditions.”

Landos Biopharma, Inc. is a clinical-stage biopharmaceutical company focused on discovery and development of first-in-class oral therapeutics for patients with autoimmune diseases. Landos’ lead clinical asset, BT-11, is a first-in-class, oral therapeutic that acts locally in the gastrointestinal tract for treatment of inflammatory bowel disease.