Asher Bio
Overview
Asher Biotherapeutics, commonly known as Asher Bio, is a biotechnology company focused on the development of precisely targeted immunotherapies for the treatment of cancer and other diseases. Founded in 2019, Asher Bio operates out of South San Francisco, California. The company was co-founded by Ivana Djuretic and Andy Yeung, with financial support from Third Rock Ventures. As of 2024, Asher Bio has raised a total of over $218 million through various funding rounds, including a recent $55 million Series C financing.
Recent Developments
- April 16, 2024: Asher Bio announced the successful closing of a $55 million Series C funding round. The investment, led by RA Capital Management, included participation from AstraZeneca and Bristol Myers Squibb. The funds are earmarked for the advancement of Asher Bio's lead program AB248, a CD8-targeted IL-2 immunotherapy currently undergoing Phase 1b trials as both a monotherapy and in combination with pembrolizumab, a PD-1 checkpoint inhibitor. The goal is to enhance the treatment of recurrent locally advanced or metastatic solid tumors.
- 2023: Following the successful completion of a $108 million Series B round in 2021, Asher Bio continued to progress with its cis-targeting immunotherapy programs, which promise to improve precision in immune cell targeting. The company reported significant advancements in using the immunotherapeutic framework for oncology applications.
- April 2022: Asher Bio entered into a manufacturing agreement with ProBioGen, a contract development and manufacturing organization (CDMO), to scale up the production of its lead immuno-oncology candidates using advanced transposase technology.
- 2021: Asher Bio achieved preclinical proof-of-concept for its platform, affirming the potential of cis-targeting in immunotherapy. This innovation is designed to selectively activate only the desired immune cell types, thereby mitigating common immunotherapy side effects such as toxicity.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | South San Francisco, California |
| Founders | Ivana Djuretic, Andy Yeung |
| Revenue | N/A |
| Profits | N/A |
| Key Investors | Third Rock Ventures, RA Capital Management, AstraZeneca, Bristol Myers Squibb |
| Industry | Biotechnology |
| Number of Employees | 11-50 |
Early History
Asher Biotherapeutics began its journey in 2019 with seed funding from Third Rock Ventures. The founders, Ivana Djuretic and Andy Yeung, sought to revolutionize the treatment of cancer and autoimmune diseases by overcoming the limitations of traditional immunotherapies. The company developed its unique cis-targeting platform, allowing for the precise activation of specific immune cells. This focus on selectivity aimed to reduce the toxicity associated with conventional therapies, thereby offering more effective and safer treatment options. Initial successes included preclinical validation of their approach, which facilitated further investment and set the stage for clinical trials.
Company Profile and Achievements
Asher Bio focuses on cis-targeting technology, which is their core methodology for developing immunotherapies aimed at selectively activating immune cell types. The company's primary product, AB248, targets CD8+ effector T cells and utilizes a modified interleukin-2 (IL-2) to provide a highly selective activation pathway. Key achievements in Asher Bio's timeline include:
- 2021: Completion of preclinical studies that validated the unique properties of their cis-targeted immunotherapy approach, demonstrating it could effectively direct immune responses to specific cell types without widespread immune activation.
- 2022: Establishing commercial partnerships for manufacturing with ProBioGen highlighted Asher Bio's preparedness for advancing their therapies towards clinical application.
- 2023-2024: Successful closure of substantial financial rounds to fund AB248 and other pipeline therapies, showing strong investor confidence in their platform and its potential impact on cancer treatment.
Current Operations and Market Position
Asher Bio continues to build on its innovative platform by advancing its lead product, AB248, through clinical development stages, with early trials indicating significant potential in enhancing cancer immunotherapy's efficacy and safety profiles. The ongoing research and development efforts, backed by substantial funding, underscore Asher Bio's commitment to leading the market in selective immunotherapy. Partnering with leading pharmaceutical brands underscores its market relevance and competitive edge in the biotechnology landscape.
Conclusion
Asher Bio exemplifies innovation in biotechnology through its pioneering cis-targeting approach, which offers a promising path for the development of the next generation of immunotherapies with enhanced efficacy and safety. The company's strategic partnerships and significant financial backing position it well for continued growth and impact within the industry. With its focus on precision in immune activation, Asher Bio is poised to make a substantial contribution to the treatment of cancer and other complex diseases, aligning with broader healthcare goals of personalized and targeted therapy. Looking forward, Asher Bio's commitment to advancing therapeutic options reflects its potential to redefine how immune-based diseases are treated, marking a significant trajectory in its market evolution.