Upstream Bio raises $200M in new financing round to get asthma drug to PhIII

Upstream Bio has raised another $200 million to go through Phase II studies and prepare for late-stage trials of an ex-Astellas monoclonal antibody in anticipation of competition with AstraZeneca and Amgen’s asthma drug Tezspire.

The raise, disclosed Thursday morning, mirrors its first funding round from 2021 and will bankroll the Waltham, MA-based startup’s ongoing Phase Ib in asthma and then mid-stage studies in both asthma and chronic rhinosinusitis with nasal polyps. Both of those studies will kick off in the first quarter of 2024, CEO Samantha Truex told Endpoints News.

That will give it enough cash runway to go well into 2026, Truex said, noting that the Phase II data readouts will come before then. The 30-employee startup already has several times the amount of drug supply needed for those studies of the TSLP receptor-targeted UPB-101, which will be tested with registrational endpoints at every-12-week…
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