āshibio is a privately held biotechnology company developing novel therapeutics for bone and connective tissue disorders. Founded in 2022 by CEO Pankaj Bhargava and the MPM BioImpact team and based in Brisbane, Calif., the company exited stealth with $40 million in seed and Series A financing. Its lead program targets fibrodysplasia ossificans progressiva (FOP) and is based on the discovery that MMP-9 may be a novel target; āshibio licensed andecaliximab, a humanized anti–MMP-9 antibody, from Gilead Sciences. Andecaliximab has been administered to approximately 1,000 patients in prior clinical trials, received Orphan Drug designations from the EMA and the FDA, and āshibio's IND for the asset was cleared by the FDA in March 2024. The company plans to initiate a Phase 2/3 trial of andecaliximab in the second half of 2024 in patients with FOP. āshibio intends to advance a pipeline addressing other forms of heterotopic ossification and connective tissue pathologies by leveraging emerging biology and novel mechanisms. Senior leadership hires include CSO Victoria Smith and CMO Deborah Wenkert, and Agent Capital partner Preston Noon joined the board as part of the financing.

Total raised

$40M

Funding rounds

2

Latest round

Seed

Latest activity

Jun 2024