Industry
Setara launches with $90 million to develop rare-disease drugs
Setara raised $90 million to advance STAR-0871, which it plans to study in Charcot-Marie-Tooth disease and overactive bladder.
Setara Biosciences launched with $90 million in Series A funding to advance drug programs spun out of Actio Biosciences, MedCity News reported. The company’s lead program, STAR-0871, is a small molecule being developed for Charcot-Marie-Tooth disease type 2C and overactive bladder.
A Phase 1 trial of the drug was already underway, and Setara said the healthy volunteer portion is complete. MedCity News reported that Setara plans to expand the study to a Phase 1b study enrolling patients with Charcot-Marie-Tooth next year. The company also plans a separate Phase 2a trial in overactive bladder.
Investors include Actio backers Deerfield Management, Canaan, Droia Ventures, EcoR1, Euclidean Capital and Regeneron Ventures. Jazz Pharmaceuticals also invested in Setara.
