Granite Bio is ready to rock 'n' roll, unveiling with $100 million and hopes of shaping new antibody treatments targeting several autoimmune diseases.
The funding consists of a $30 million series A led by founding investors Versant Ventures and Novartis Venture Fund, plus a $70 million series B round led by Forbion and Sanofi Ventures, according to an April 24 release.
The cash will go toward polishing two lead molecules, both of which were developed with Versant’s Ridgeline Discovery Engine in Switzerland and originated from the lab of scientific co-founder Matthias Mack, who is a professor at the University of Regensburg in Germany.
One of the antibody candidates—dubbed GRT-001—is designed to drain pro-inflammatory monocytes, which are known to drive autoimmunity and inflammation. The investigational treatment is currently undergoing phase 1a testing in healthy volunteers, with a phase 1b trial for patients with inflammatory bowel disease slated for later this year.
In nonhuman primate studies, GRT-001 dose-dependently depleted pro-inflammatory monocytes, according to Granite.
The other asset, called GRT-002, is built to block interleukin-3, a key player in inflammation that could offer a new approach to treating itch and allergy if successful. The antibody is in preclinical development and is expected to enter the clinic next year.
The biotech hopes to bring first-in-class therapies to patients impacted by inflammation, autoimmunity and fibrosis, Granite CEO Patrick Loustau said in the release. The leader most recently served as chief business officer for Amolyt Pharma until AstraZeneca’s Alexion acquired the French biotech for up to $1.05 billion in July 2024.
Loustau is joined by Dominik Hartl, M.D., who has stepped on as Granite’s chief medical officer after serving in the same role at Quell Therapeutics. Before that, he held leadership positions at Novartis, Roche and Galapagos.
Meanwhile, Forbion’s operating partner Gijs van den Brink, M.D., Ph.D., will serve as the biotech’s chief scientific officer. Before Granite, he was the senior vice president and global head of immunology, cardiovascular and metabolism, infectious diseases and ophthalmology discovery and early development at Roche.