Be Bio Announces Closing of $92M Series C Financing and Completes Transition to a Multi-Program, Clinical Stage Company

Be Biopharma, Inc. announced the closing of its $92M Series C financing. The round includes participation from new investor Nextech with existing investors including ARCH Venture Partners, Atlas Venture, RA Capital Management, Alta Partners, Longwood Fund, Bristol Myers Squibb, and Takeda Ventures, among others.  In conjunction with the financing, Melissa McCracken, Ph.D. of Nextech will join Be Bio’s Board of Directors.

The proceeds from the Series C financing will be used to generate clinical proof-of-concept for BE-101 in the ongoing BeCoMe-9 Phase 1/2 clinical trial for people with hemophilia B and to advance BE-102 for the treatment of hypophosphatasia to the clinic. Both programs are built on Be Bio’s BCM product platform, creating durable, titratable, and redosable therapeutics that require no preconditioning and produce sustained and constant levels of therapeutic proteins.

“With this funding in hand, we are well-equipped to advance our two lead programs and solidify our position as a multi-program, clinical-stage company,” said Joanne Smith-Farrell, Ph.D., Chief Executive Officer of Be Bio.  “We are on track to demonstrate clinical proof-of-concept for BE-101 in Hemophilia B this year.  Additionally, BE-102 is poised to enter the clinic next year, potentially demonstrating BCMs’ potential to become a new gold standard in enzyme replacement by providing hypophosphatasia patients with a transformative new option.  I am grateful to our existing and new investors, who share our vision that BCMs can transform the treatment landscape for a wide range of diseases with potentially best-in-class medicines.”

“We are excited to partner with Be Biopharma at this pivotal stage,” stated Melissa McCracken, Ph.D., Partner at Nextech.  “Be Bio has established itself as a leader in this field with their lead programs having best-in-class potential. We believe BCMs, as a class, could revolutionize treatment paradigms across indications . We look forward to supporting their groundbreaking work and witnessing the transformative impact on patient care.”