Authored by James Sheppard
The Stockholm based rare disease biotech, Wilson Therapeutics, announced that it had raises $40m in series B funding. The funding was co-led by new investors Abingworth LLP and MVM Life Science Partners LLP. The new investors joined HealthCap in this round of funding.
Wilson Therapeutics is a biotech company with a specific focus on rare diseases and the company’s lead asset is WTX101, which is being developed for the treatment of Wilson’s disease. Wilson’s disease is a rare genetic disorder which prevents the body from regulating copper and can lead to serious brain and liver damage. There are estimated to be around 30,000 sufferers of Wilson’s disease worldwide. WTX101 has received Orphan Drug designation from both the FDA and EMA.
Jonas Hansson, CEO of Wilson Therapeutics said ‘We are pleased with this significant support from our new as well as existing investors, who represent some of the most experienced in the global life sciences industry. Their combined experience and financial backing will enable us to advance WTX101 through clinical development with the aim of making it available and addressing the unmet medical needs in patients with Wilson’s disease.’
As part of the funding, Dr Genghis Lloyd Harris a Partner at Abingworth and Dr Bali Muralidhar, Partner at MVM Life Science will both join the board of directors at Wilson Therapeutics. They join Dr Hugh Reinhoff, Chairman of the Board and CEO of Imago BioSciences, Dr Marteen Steen, Partner at HealthCap and Mr Jacob Gunterberg also a Partner at HealthCap.
With a solid cash platform to advance the clinical development of WTX101 and a strong and reputable management team the future looks promising for Wilson Therapeutics in bring much needed therapies to patients with Wilson’s disease.
