BRIM Biotechnology, a clinical-stage biotechnology company advancing novel regenerative therapies to help combat and cure ophthalmology and degenerative joint diseases, has raised $20 million in its Series E funding round.
This demonstrates the heightened interest and growing demand for new treatments for Dry Eye Disease (DED). News of this latest funding round comes as BRIM prepares to initiate the Phase 3 clinical trial for its lead asset BRM421 for DED in the US.
Since the company’s inception in 2013, BRIM has successfully developed several platform technologies, including the regenerative peptide technology (PDSP) upon which the lead asset BRM421 for the Phase 3 clinical trial is based. Two of the platforms were spun out as a new company, Ascendo Biotechnology, to reshape the future of immunotherapeutics.
This series E funding investment will be used to accelerate the development of BRIM’s diverse pipeline of wholly-owned drug candidates as well as to invest in new innovation, leveraging BRIM’s extensive translation research experience.
Dr. Haishan Jang, the founder, chairwoman and CEO of BRIM, said: “We are tackling chronic, life-limiting diseases using our proprietary stem cell regenerative Pigment Epithelium-Derived Factor (PEDF) derived Short Peptide (PDSP) technology platform to not only alleviate symptoms but to address and repair the damage caused by diseases.
“This funding round is the latest in a series of funding that has been planned strategically to enable the company to achieve its core mission of advancing discoveries into disease-modifying treatments that transform patients’ lives. We are unwavering in our commitment to bringing sustainable and affordable healthcare to the world.
“The oversubscribed interest from investors is an endorsement of BRIM’s solid foundations built on the strength of our team, our expertise in translational science, and the progress of our development programs to date. We look forward to initiating the Phase 3 clinical trial for BRM421 for Dry Eye Disease at this exciting time of new growth.”