Extension financing adds new investors, Janus Henderson Investors and RA Capital, with strong renewed participation from existing investors
Proceeds will support further clinical development of lead program PHB-050 in food allergy and other atopic conditions
Phase 1 clinical trial for PHB-050 remains on track
CAMBRIDGE, Mass.–(BUSINESS WIRE)–Poplar Therapeutics, Inc., a clinical-stage immunology company developing a new class of anti-IgE therapy to treat food allergy and other atopic conditions, today announced the closing of its Series A extension round, bringing its total Series A financing to $95 million. The round was led by Janus Henderson Investors, with RA Capital also participating as a new investor. The financing was further supported by existing investors, including SR One, Vida Ventures and affiliates of ArrowMark Partners. The additional capital from this financing will support the continued advancement of its lead asset, PHB-050, through clinical development.
“Poplar Therapeutics is advancing a differentiated approach that has the potential to redefine how IgE-mediated diseases are treated,” said Daniel Lyons, PhD, CFA, Portfolio Manager, Research Analyst, Janus Henderson Investors. “We believe the upcoming Phase 1 data will be an important milestone in validating this novel mechanism and we look forward to supporting the company as it works to bring this therapy to patients in need.”
PHB-050 is currently in a Phase 1 clinical trial for food allergy. The ongoing trial is expected to generate key data on safety, pharmacokinetics and the potential to rapidly reduce circulating IgE levels toward zero, which could inform the next stage of clinical development.
“This extension reflects the strong conviction of our new and existing investors in Poplar’s differentiated science and clinical strategy and will allow us to continue the development of our potential best-in-class anti-IgE therapy through Phase 2 clinical trials,” said Chip Baird, chief executive officer of Poplar Therapeutics. “We are thrilled to have Janus and RA Capital join our exceptional investor partners in our shared goal of transforming the treatment of atopic disease. We believe that PHB-050 has the potential to help millions of patients in need of effective treatment options.”
Despite the availability of omalizumab (Xolair®), a first-generation anti-IgE therapy, millions of patients with atopic diseases such as food allergy, allergic asthma and atopic dermatitis lack effective treatment options, representing a significant unmet medical need. Patients with elevated IgE levels are ineligible for or do not adequately respond to currently available treatments.
About PHB-050
More than seven million patients with atopic conditions have high IgE levels, with approximately three million considered ineligible for or resistant to current standard therapies. In food allergy, approximately 50% of patients are classified as having high IgE levels.
PHB-050 is a novel, next-generation anti-IgE antibody designed to treat multiple atopic diseases, including food allergy, asthma and atopic dermatitis with potential application for select orphan immunology and inflammatory diseases. Its unique triple-action mechanism is designed to not only block IgE from binding to mast cells that trigger allergic reactions, but also to rapidly reduce circulating IgE and inhibit its production.
About Poplar Therapeutics
Poplar Therapeutics, Inc. is a clinical-stage immunology company developing a new class of anti-IgE therapy to challenge convention in treating allergic disorders, which was incorporated in 2024. Its lead program, PHB-050, is a next-generation anti-IgE antibody with a unique triple-action design currently being studied in atopic diseases. Poplar is pursuing the bold idea that IgE can be rapidly driven toward zero, with the goal of helping people with IgE-mediated conditions move from fear toward freedom.
Contacts
Media Contact:
Terri Clevenger
[email protected]
