An oversubscribed $125 million Series D financing was announced by Star Therapeutics, a clinical-stage biotechnology company based in South San Francisco, to significantly advance its therapeutic pipeline.
The funding round was co-led by Sanofi Ventures and Viking Global Investors, with substantial participation from other new investors, including Janus Henderson Investors, Frazier Life Sciences, and GordonMD Global Investments, alongside strong support from numerous existing investors. The primary use of the proceeds is to support the continued clinical advancement of the company’s lead program, VGA039, a first-in-class monoclonal antibody targeting Protein S to restore balance to the blood clotting process.
VGA039 is being developed as a potentially transformative, universal hemostatic therapy for various bleeding disorders, starting with von Willebrand disease (VWD), which is the most common inherited bleeding disorder, affecting over 50,000 diagnosed and treated patients in the U.S.
This funding comes as Star Therapeutics has already initiated a pivotal Phase 3 clinical trial (VIVID-6) of VGA039 in patients with all types of VWD. The Phase 3 trial is designed to investigate the safety and efficacy of the antibody administered as prophylaxis via a convenient once-monthly subcutaneous injection, offering a significant reduction in treatment burden compared to current VWD prophylaxis options, such as factor replacement therapies that require two to three intravenous infusions per week.
Star Therapeutics CEO and Founder, Adam Rosenthal, Ph.D., emphasized that this new funding reinforces the urgency of the company's mission to bring life-changing therapies to people with serious bleeding disorders. In conjunction with the financing, the company added valuable expertise to its board, with Jason Hafler, Ph.D., from Sanofi Ventures joining as a director and Maneka Mirchandaney of Viking Global Investors joining as a board observer. VGA039 has already received Fast Track and orphan drug designations from the FDA, and its potential is supported by previously reported positive interim data from a Phase 1 study, underscoring its novel mechanism and potential for both substantial patient impact and long-term value.