Timberlyne Therapeutics Launches with a $180 Million Series A Financing to Advance CM313, a Potentially Best-in-Class Anti-CD38 Monoclonal Antibody, for Diseases of High Unmet Medical Needs

Mountainfield Venture Partners, a biopharmaceutical company creation firm, partners with Keymed Biosciences to form Timberlyne Therapeutics, accessing global development and commercial rights outside of greater China for CM313

Financing co-led by Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners

SAN DIEGO, Jan. 9, 2025 /PRNewswire/ -- Timberlyne Therapeutics, a clinical-stage biopharmaceutical company focused on the development of novel therapies for autoimmune disorders, today announced the close of a $180 million Series A financing to advance CM313, a potentially best-in-class monoclonal antibody targeting CD38, for diseases of high unmet medical needs. The financing was led by investors Abingworth, Bain Capital Life Sciences, and Venrock Healthcare Capital Partners, with participation from Boyu Capital, Lilly Asia Ventures, Braidwell LP, and 3H Health Investment. Timberlyne Therapeutics was formed by Mountainfield Venture Partners, a biopharma company creation firm, in partnership with Keymed Biosciences.

Timberlyne has obtained exclusive development and commercialization rights to CM313 worldwide outside of greater China from Keymed Biosciences, a leading drug discovery and development company. Under the terms of the licensing agreement, Keymed will receive an undisclosed upfront payment, as well as future cash milestones, royalties on any potential future net sales, and equity ownership in Timberlyne. Keymed retains development and commercialization rights in greater China.

CM313 is an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity and has been clinically studied across numerous disease states, including immune thrombocytopenic purpura, systemic lupus erythematosus, and relapsed/refractory multiple myeloma. Across these trials, CM313 has demonstrated potentially best-in-class characteristics. The therapeutic potential of CM313 was demonstrated in a clinical study recently published in the New England Journal of Medicine, where the drug candidate achieved a 95% response rate in patients with treatment-refractory Immune Thrombocytopenia.

About Timberlyne Therapeutics

Timberlyne Therapeutics is a clinical-stage biopharmaceutical company focused on the development and commercialization of transformational therapies for high unmet medical needs. Timberlyne's lead program is CM313, an IgG1 monoclonal antibody with enhanced complement-dependent cytotoxicity that targets CD38. By targeting CD38, which is highly expressed on plasma cells, NK cells, and other immune cells, CM313 modulates multiple immune cell types leading to both rapid and durable responses across a range of autoimmune diseases and cancers.

About Keymed Biosciences

Keymed Biosciences Inc. (HKEX: 02162) focuses on the urgent unmet clinical needs, and is committed to providing high-quality, affordable, innovative therapies for patients in China and overseas. Keymed was founded by medical and scientific experts from world-renowned universities who have strong experience in the transformation of scientific and technological achievements to commercialization at home and abroad. The core leadership team includes the inventors of the first PD-1 antibody drugs that were pioneered and approved in the United States and China. The Company was listed on the main board of Hong Kong Stock Exchange on July 8, 2021.

To accelerate the efficiency of our research and discovery, we have established a fully-integrated platform encompassing all of the key functions in the biologic drug development. These include target validation, lead molecule discovery and optimization, preclinical evaluation, process development, translational research, clinical development and manufacturing. This integrated platform has enabled us to rapidly and cost-effectively identify, build, expand and advance our diversified pipeline of innovative and differentiated antibody-based therapies, including monoclonal antibodies, antibody drug conjugates (ADCs) and bispecific antibodies.

About Mountainfield Venture Partners

Mountainfield Venture Partners is a biopharmaceutical company creation firm that builds new companies around development-stage drug candidates with the potential to transform patient care. We form our companies around in-licensed drug candidates, world-class leadership teams, and syndicated capital raises from top-tier life science institutional investors. We also develop the strategy and establish the operations for our companies based on our long track record in biopharmaceutical leadership and operational roles spanning from small start-up biotechnology companies to multi-national pharmaceutical companies.

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SOURCE Timberlyne Therapeutics