Setara Biosciences raises $90 million in Series A round
Setara Biosciences announced the close of a $90 million Series A round with Deerfield, Canaan and Droia participating, after the Jazz and Actio deal.
Setara Biosciences announced the closing of a $90 million Series A round, according to a statement published by Business Wire via Wedbush.
Returning investors Deerfield, Canaan, Droia, EcoR1, Euclidean and Regeneron Ventures participated in the round, alongside Jazz Pharmaceuticals entering as a shareholder, according to the statement.
The company owns the drug STAR-0871, an oral TRPV4 inhibitor, and plans a Phase 1b clinical trial for Charcot-Marie-Tooth disease type 2C and a Phase 2a trial for overactive bladder during 2027.
David Goldstein serves as the company's president and executive chairman, according to the statement.
What do these terms mean?
Series A: The first major funding round after seed funding, usually used to develop the product and start trials.
TRPV4 inhibitor: A drug that works by stopping a specific protein in cells linked to the sensation of pain and inflammation.
Phase 1b clinical trial: An early stage of testing a drug in patients, aimed at measuring the safe dose and side effects.
Weekly Newsletter
Read between the lines before everyone else. Decode the most important economic, tech, and decision-maker movements in the region.. in 5 minutes every Saturday.
