Abcuro Raises $200 Million to Advance Therapy for Rare Autoimmune Condition

Rare Daily Staff

Abcuro said it closed a $200 million series C financing, which will be used in part to complete the registrational phase 2/3 MUSCLE clinical trial evaluating its experimental therapy ulviprubart to treat the rare autoimmune condition inclusion body myositis.

New Enterprise Associates led the round, with Foresite Capital participating as a new investor. Existing investors, including RA Capital Management, Bain Capital Life Sciences, Redmile Group, Samsara BioCapital, Sanofi Ventures, Pontifax, Mass General Brigham Ventures, New Leaf Ventures, funds managed by abrdn Inc., funds and accounts managed by BlackRock, Eurofarma Ventures, and Soleus Capital, also also participated in the round.

Inclusion body myositis (IBM) is an autoimmune disease in which cytotoxic T cells attack muscle tissue leading to progressive weakness and limb muscle atrophy. Patients progressively lose muscle function, including grip strength, dexterity, and mobility. There are currently no disease-modifying treatment options available.

Ulviprubart is a first-in-class anti-KLRG1 antibody capable of selectively depleting cytotoxic T cells, while sparing naive, regulatory and central memory T cells. Ulviprubart is designed to treat diseases mediated by highly cytotoxic T cells, including IBM and T-cell large granular lymphocytic leukemia.

The U.S. Food and Drug Administration and the European Medicines Agency have granted orphan drug designation to ulviprubart for the treatment of IBM.

“Continued support from all of our investors in this latest financing round validates our vision for the potential that ulviprubart may have as a novel treatment for progressive and devastating diseases mediated by highly cytotoxic T cells, including inclusion body myositis” said Alex Martin, CEO of Abcuro. “We are in a strong position to execute on our clinical development plan, including completing our ongoing, registrational phase 2/3 MUSCLE clinical trial of ulviprubart in IBM, and expect to report initial data in the first half of 2026. We will also look to fund the expansion of manufacturing capabilities and other pre-commercial activities this year.”

Photo: Alex Martin, CEO of Abcuro