Timberlyne Therapeutics Secures $180 Million for Autoimmune Therapy CM313
Timberlyne Therapeutics, a clinical-stage biopharmaceutical company based in San Diego, California, has secured $180 million in Series A funding to advance its lead program, CM313, a potentially best-in-class monoclonal antibody targeting CD38 for the treatment of autoimmune disorders and cancers.
The funding round was led by Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners, with participation from Boyu Capital, Lilly Asia Ventures, Braidwell LP, and 3H Health Investment. This significant investment underscores the potential of CM313 to address high unmet medical needs across various disease states.
Timberlyne Therapeutics was formed by Mountainfield Venture Partners, a biopharmaceutical company creation firm, in partnership with Keymed Biosciences Inc., a leading drug discovery and development company listed on the Hong Kong Stock Exchange. Under the terms of the licensing agreement, Timberlyne has obtained exclusive development and commercialization rights to CM313 worldwide outside of greater China. Keymed retains development and commercialization rights in greater China and will receive an undisclosed upfront payment, future cash milestones, royalties on any potential future net sales, and equity ownership in Timberlyne.
CM313 is an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity that targets CD38, a glycoprotein highly expressed on plasma cells, NK cells, and other immune cells. By modulating multiple immune cell types, CM313 has demonstrated rapid and durable responses across a range of autoimmune diseases and cancers in clinical studies. Notably, a recent study published in the New England Journal of Medicine showed that CM313 achieved a 95% response rate in patients with treatment-refractory Immune Thrombocytopenia, highlighting its therapeutic potential.
The financing will be used to expand Timberlyne’s operations and research and development sector, focusing on advancing CM313 through clinical trials and towards commercialization. The company’s mission is to develop and commercialize transformational therapies for high unmet medical needs, and this funding marks a significant step towards achieving that goal.
Keymed Biosciences, with its fully-integrated platform encompassing all key functions in biologic drug development, has enabled the rapid and cost-effective identification, development, and advancement of innovative and differentiated antibody-based therapies. The partnership between Mountainfield Venture Partners and Keymed Biosciences to form Timberlyne Therapeutics leverages the strengths of both companies to bring CM313 to the global market.
The investment by leading life science investors reflects the confidence in Timberlyne’s approach and the potential of CM313 to address significant unmet medical needs. With this funding, Timberlyne Therapeutics is well-positioned to advance its lead program and make a meaningful impact in the treatment of autoimmune disorders and cancers.
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