Interline Therapeutics, a Foresite Labs-incubated company, announced on Thursday that it had raised $92 million in a financing round which is co-led by Foresite Capital and ARCH Venture Partners. The funding, launched by the company, will be used toward the development of therapies that correct dysfunctional protein communities to treat various diseases.
The money earned in the financing round is a combination of seed and Series A funding. The company said that its proceeds will be funnelled to facilitate the expansion of its research platform and advance a total of six preclinical therapeutic programs.The Therapeutics will use genomics, proteomics, structural biology, and computational chemistry to map and modulate protein communities to construct a precision medicine platform focused on genomics, protein communities, and modulators of these communities.
Interline Therapeutics Co-Founder and Chief Executive Officer, Zachary Sweeney, is joined by company leaders who boast clinical development experience at Amgen, Genentech, Novartis, Denali Therapeutics and Nurix. Vikram Bajaj, PhD, Co-Founder and CEO of Foresite Labs said that by creating a platform to discover, understand and re-engineer protein interactions, we will find new approaches to treat debilitating diseases. Zach and the Interline team possess an incredible breadth of experience, and we are thrilled to help accelerate Interline’s growth.
The company announced that healthcare tech company Aetion closed a $110 million Series C funding round with help from Foresite Capital, in addition to Warburg Pincus and B Capital. Aetion has raised $212 million, which is being harnessed to further establish the company’s stance in the real-world evidence space.