- Timberlyne Therapeutics has raised $180 million in Series A financing to develop CM313, a monoclonal antibody targeting CD38.
- Keymed Biosciences granted Timberlyne exclusive global rights (excluding greater China) to CM313.
Timberlyne Therapeutics, a clinical-stage biopharmaceutical company, has closed a $180 million Series A funding round to advance its monoclonal antibody, CM313, targeting autoimmune diseases with unmet medical needs. The round was led by Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners, with support from Boyu Capital, Lilly Asia Ventures, Braidwell LP, and 3H Health Investment. The company was established by Mountainfield Venture Partners in collaboration with Keymed Biosciences.
Under the licensing agreement, Keymed Biosciences retains development and commercialisation rights for CM313 in greater China, while Timberlyne holds exclusive rights for the rest of the world. Keymed will receive an upfront payment, milestone payments, royalties on future sales, and equity in Timberlyne.
CM313 is an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity. It has been studied in conditions such as immune thrombocytopenic purpura (ITP), systemic lupus erythematosus, and relapsed/refractory multiple myeloma. Results from clinical studies have shown promising outcomes, including a 95% response rate in treatment-refractory ITP patients, as reported in the New England Journal of Medicine.