GRO Biosciences Inc. (“GRObio”), a pioneering biotechnology firm utilizing synthetic biology to enhance the amino acid repertoire and advance protein therapeutics, has successfully concluded an oversubscribed Series B financing round, raising $60.3 million. This funding milestone marks a significant step in the company’s journey to expand its capabilities.
With this Series B financing, GRObio’s total capital raised now exceeds $90 million. The round was co-led by new investors Atlas Venture and Access Biotechnology, alongside continued support from existing investors Leaps by Bayer, Redmile Group, Digitalis Ventures, and Innovation Endeavors. As part of this financing, Kevin Bitterman, PhD, Partner at Atlas Venture, and Dan Becker, MD, PhD, Managing Director at Access Biotechnology, have joined GRObio’s Board of Directors.
GRObio will allocate these funds to advance its lead program, ProGly-Uricase, into clinical trials for the treatment of refractory gout. This severe form of arthritis results from the buildup of uric acid crystals in joints and currently lacks effective treatment options for patients who do not respond to standard therapies. ProGly-Uricase, a proprietary uricase enzyme incorporating GRObio’s ProGly non-standard amino acids (NSAAs), aims to mitigate immune responses that typically limit the effectiveness of existing therapies.
The Series B financing will also support the expansion of GRObio’s pipeline and further development of its genomically recoded organism (GRO) platform. This platform enables the scalable production of therapeutics that incorporate multiple NSAAs, enhancing the efficacy and specificity of treatments across a range of diseases.
Dan Mandell, PhD, Chief Executive Officer of GRObio, expressed enthusiasm about the company’s progress: “Having validated our therapeutic approach and demonstrated the scalability of our GRO platform, we are well-positioned to advance GRObio into the clinical stage. This financing allows us to gather crucial clinical data for ProGly-Uricase while expanding our platform’s capabilities to produce proteins with multiple NSAAs, integrating drug delivery and immune modulation functionalities.”
Kevin Bitterman of Atlas Venture commented on the strategic potential of GRObio’s technology: “GRObio has established a leading platform for discovering and producing therapeutics using non-standard amino acids. The company’s innovative approach addresses critical unmet needs, starting with refractory gout. Atlas Venture is excited to collaborate with GRObio to bring this groundbreaking technology to clinical fruition.”
Dan Becker of Access Biotechnology added, “GRObio’s ProGly programs offer promising new solutions for patients facing limited treatment options. By partnering with GRObio, we aim to significantly enhance patient outcomes across a wide spectrum of indications enabled by their innovative GRO platform.”
GRO Biosciences, headquartered in Cambridge, MA, is committed to revolutionizing treatments in autoimmune and metabolic diseases through its cutting-edge scientific advancements in protein therapeutics. The company collaborates on partnered programs while advancing its own pipeline of NSAA-bearing therapeutics, each designed to provide unprecedented therapeutic benefits.
