BOSTON--(BUSINESS WIRE)--resTORbio, Inc., a clinical-stage biopharmaceutical company focused on the development and commercialization of novel therapeutics for the treatment of aging-related diseases, today announced the completion of an oversubscribed $40 million Series B financing round. The round was led by OrbiMed and included participation from Fidelity Management & Research Company, Rock Springs Capital, Quan Capital and Nest Bio. This financing brings the total capital raised this year to $65 million, including a $25 million Series A financing that was completed earlier this year. resTORbio plans to use the proceeds to advance the development of RTB101, a selective Target of Rapamycin Complex 1 (TORC1) inhibitor through Phase 2b clinical trial and, if successful, into a Phase 3 clinical program, as an immunotherapy to reduce the incidence of respiratory tract infections (RTIs) in elderly subjects. The funds are also expected to be used to expand the program into a Phase 2 clinical trial in an additional aging-related indication.
“We appreciate the support of these seasoned life sciences investors and their confidence in the potential of our TORC1 program to treat diseases related to aging,” said Chen Schor, President and CEO of resTORbio. “RTB101, our selective inhibitor of TORC1, has been demonstrated to enhance immune function in elderly individuals in a randomized, placebo-controlled, phase 2 clinical trial. We believe our approach may provide an opportunity to address multiple aging-related diseases beyond our initial indication for reducing the incidence of RTIs in the elderly. We look forward to reporting data from our Phase 2b clinical trial in the second half of 2018 and to expanding the program into additional indications.”
RTB101, an orally-administered, potent TORC1 inhibitor, is a first-in-class immunotherapy designed to address immunosenescence, the decline in immune function that occurs with age. RTB101, alone and in combination with everolimus, is being evaluated in a Phase 2b clinical trial to reduce the incidence of RTIs in elderly individuals at risk of mortality or morbidity due to RTIs which are caused by a broad spectrum of pathogens. Currently, there are no therapies approved by the U.S. Food and Drug Administration (FDA) that improve immune function in the elderly and thereby reduce the incidence of RTIs.
In connection with the financing, Jonathan Silverstein, Partner and a Co-Head of Global Private Equity at OrbiMed, will join the resTORbio board of directors. “We are excited to be investing in what we believe is the leading company addressing aging-related diseases and conditions. We look forward to contributing to resTORbio’s efforts to advance and expand its program,” stated Jonathan Silverstein.
About Respiratory Tract Infections in the Elderly
The
reduced ability of elderly patients to detect and fight infections is
most commonly manifested in their susceptibility to RTIs and the
negative effects such infections have on their overall health. According
to the U.S. Census Bureau, RTIs are the fifth leading cause of death in
people age 85 and over and the seventh leading cause of death in people
age 65 and over. RTIs also result in high healthcare costs for the
elderly population and burden the healthcare system. The majority of
RTIs are caused by viruses for which there are no FDA-approved
therapies. As the elderly represent the fastest growing population in
all regions of the world, there is significant unmet medical need for
innovative therapeutic options to reduce the incidence of RTIs by
enhancing the function of the aging immune system.
About TORC1
Mechanistic target of rapamycin (mTOR) is a
protein serine/threonine kinase that regulates the process of aging and
aging-related diseases and conditions, via two complexes: TORC1 and
TORC2. TORC1 inhibition has been found to have many beneficial effects
on aging-related diseases and conditions, while TORC2 inhibition has
been associated with adverse events including hyperglycemia and
hyperlipidemia. The TORC1 inhibitor program being developed by resTORbio
may, therefore, have therapeutic potential to ameliorate multiple
aging-related diseases without the undesirable side effects associated
with TORC2 inhibition.
About resTORbio
resTORbio, Inc. is a clinical stage
biopharmaceutical company focused on the development and
commercialization of novel therapeutics for the treatment of
aging-related diseases. resTORbio’s lead program is targeting the target
of rapamycin complex 1 (TORC1) pathway to treat aging-related diseases
and conditions with an initial focus on conditions caused by
immunosenescence, the decline in immune function that occurs during
aging. resTORbio’s lead product candidate, RTB101, alone or in
combination with everolimus, is in a Phase 2b clinical trial to evaluate
its potential in reducing the incidence of respiratory tract infections
(RTI) in elderly subjects at increased risk of RTI-related morbidity and
mortality. resTORbio’s lead program is supported by two Phase 2a
clinical studies from which promising safety and efficacy signals were
observed in almost 500 elderly subjects. resTORbio is pursuing a
pragmatic clinical development plan to address areas of key unmet
medical need in the aging population. For more information, please visit www.restorbio.com.
resTORbio is an affiliate of PureTech
Health.
