Antibody biotech Diagonal Therapeutics lands $128M to pursue rare diseases

Di­ag­o­nal Ther­a­peu­tics has launched with $128 mil­lion to go af­ter an or­phan dis­ease that leads to chron­ic ane­mia, and an­oth­er an­ti­body for the same rare dis­ease that is al­so tar­get­ed by Mer­ck’s new­ly ap­proved drug, Win­re­vair. Just last week, the biotech was con­grat­u­lat­ing its chief sci­en­tif­ic of­fi­cer on his con­tri­bu­tions to the same Mer­ck drug.

The Cam­bridge, MA-based biotech came out of stealth on Wednes­day morn­ing with the seed and Se­ries A funds from blue-chip back­ers like BVF Part­ners and At­las Ven­ture. Ad­di­tion­al in­vestors in­clude Light­speed Ven­ture Part­ners, RA Cap­i­tal Man­age­ment, Fra­zier Life Sci­ences, Viking Glob­al In­vestors, Velos­i­ty Cap­i­tal and Check­point Cap­i­tal.

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