Timberlyne Therapeutics launched last week with the close of a $180 million Series A financing to advance CM313, a potentially best-in-class monoclonal antibody targeting CD38, for immune thrombocytopenic purpura. CD38 (cluster of differentiation 38) is a glycoprotein found on the surface of many immune cells, including CD4+, CD8+, B lymphocytes and natural killer cells.
The financing was led by investors Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners, with participation from Boyu Capital, Lilly Asia Ventures, Braidwell LP, and 3H Health Investment. Timberlyne Therapeutics was formed by Mountainfield Venture Partners, a biopharma company, in partnership with Keymed Biosciences.
Timberlyne has obtained exclusive development and commercialization rights to CM313, outside of greater China, from Keymed Bioscience Worldwide. Under the terms of the licensing agreement, Keymed will receive an undisclosed upfront payment, as well as future cash milestones, royalties on any potential future net sales, and equity ownership in Timberlyne. Keymed retains development and commercialization rights in greater China.
CM313 is an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity and has been clinically studied across numerous disease states, including immune thrombocytopenic purpura, systemic lupus erythematosus, and relapsed/refractory multiple myeloma. Across these trials, CM313 has demonstrated potentially best-in-class characteristics. Its therapeutic potential was demonstrated in a clinical study recently published in the New England Journal of Medicine, where the drug candidate achieved a 95% response rate in patients with treatment-refractory Immune Thrombocytopenia.
Timberlyne Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of transformational therapies for high unmet medical needs. Timberlyne’s lead program is CM313, an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity that targets CD38. By targeting CD38, which is highly expressed on plasma cells, NK cells, and other immune cells, CM313 modulates multiple immune cell types leading to both rapid and durable responses across a range of autoimmune diseases and cancers.
Keymed Biosciences focuses on “the urgent unmet clinical needs, and is committed to providing high-quality, affordable, innovative therapies for patients in China and overseas. Keymed was founded by medical and scientific experts from world-renowned universities who have strong experience in the transformation of scientific and technological achievements to commercialization at home and abroad.” The core leadership team includes the inventors of the first PD-1 antibody drugs that were pioneered and approved in the United States and China. The Company was listed on the main board of Hong Kong Stock Exchange on July 8, 2021.
Keymed has “established a fully-integrated platform encompassing all of the key functions in the biologic drug development.” These include target validation, lead molecule discovery and optimization, preclinical evaluation, process development, translational research, clinical development and manufacturing. The company says this integrated platform has enabled them “to rapidly and cost-effectively identify, build, expand and advance our diversified pipeline of innovative and differentiated antibody-based therapies, including monoclonal antibodies, antibody drug conjugates (ADCs) and bispecific antibodies.”
