RQ Bio Raises $115 Million in Series A Funding
RQ Bio, a biotechnology firm specializing in long-acting monoclonal antibodies for seasonal influenza, has successfully raised $115 million in a Series A funding round. The financing was led by Frazier Life Sciences, with robust participation from EQT Life Sciences, Forbion, Monograph, Wellington Management, LifeArc Ventures, Oxford Science Enterprises, and the University of Oxford.
Focus on Influenza Prevention
Founded in 2021 and based in the United Kingdom, RQ Bio is dedicated to developing antibody therapeutics that provide immediate and enduring protection against severe influenza, particularly for high-risk and immunocompromised populations. The company's lead program, RQB01, is currently in the IND-enabling studies phase. This program is designed to offer broad and potent protection against influenza through a single administration, targeting conserved epitopes to adapt to seasonal variations.
Use of Funds
The substantial funds raised will primarily support the clinical development of RQB01. The company aims to advance its proprietary antibody discovery platform to build a pipeline of assets focused on respiratory viral disease prophylaxis. This strategic move is expected to enhance the prevention of influenza, offering a new approach for safeguarding vulnerable patient groups.
Leadership and Board Changes
As part of the Series A financing, Joe Cabral, Partner at Frazier Life Sciences, has joined RQ Bio’s Board of Directors. Additionally, Christian S. Schade has been appointed as the Executive Chairman. Schade, who previously served as President and CEO of Halda Therapeutics, brings substantial leadership and transaction experience to the table. In his new role, Schade will collaborate with RQ Bio’s management team and Board of Directors on corporate strategy and growth initiatives.
Looking Ahead
With the new infusion of capital, RQ Bio is well-positioned to make significant advancements in influenza prevention. By focusing on the development of long-acting monoclonal antibodies, the company aims to provide a robust defense mechanism against seasonal influenza, particularly benefiting those who are unable to rely solely on vaccination.