ThirtyFiveBio Limited has successfully closed a bridge round of financing to advance its innovative treatment approach for ulcerative colitis. The funding round features a strategic investment from AbbVie Ventures alongside support from existing investor Canaan and new investor Mayewell Capital.
The Oxford, UK-based biotechnology company is developing first-in-class small molecule inhibitors targeting G protein-coupled receptor 35 (GPR35), a genetically validated target in inflammatory bowel disease (IBD). The new capital will support continued development of the company's GPR35 inhibitor program through preclinical development, including investigational new drug (IND)-enabling studies necessary for initiating first-in-human clinical trials.
Novel Mechanism of Action Targets Root Cause of Disease
ThirtyFiveBio's approach represents a paradigm shift in IBD treatment. While current therapies primarily target inflammation, GPR35 inhibition addresses a more fundamental aspect of the disease process.
"Despite recent advances, patients with Inflammatory Bowel Disease (IBD) are still suffering," said Timothy Radstake, M.D., Ph.D., vice president and global head of immunology discovery research at AbbVie. "AbbVie Ventures invests in opportunities to deliver future pipeline substrates with the potential to break through the therapeutic ceiling in diseases like IBD. We are excited to partner with ThirtyFiveBio to explore the potential therapeutic benefit of targeting GPR35 for the treatment of IBD."
The company and its collaborators have demonstrated that gain-of-function variants of GPR35 are associated with disease. Their research suggests that GPR35 inhibition could resolve underlying disease by preventing epithelial cell damage and dysfunction in the gut wall rather than merely addressing symptomatic inflammation.
This mechanism, which the company describes as an "epithelial shield," represents a differentiated and orthogonal approach to direct anti-inflammatory modalities. The novel treatment strategy has the potential to improve disease resolution and remission rates in ulcerative colitis patients.
Precision Medicine Approach to Patient Selection
A key differentiator in ThirtyFiveBio's strategy is its biomarker-driven, precision medicine approach. The company is leveraging informatic analysis of patient tissue to identify subsets of patients who are more likely to respond to GPR35 inhibitor therapy based on their unique genetic signatures and biology.
These biomarkers, once validated, will enable precision patient selection in planned clinical trials, potentially increasing the likelihood of successful outcomes by targeting those most likely to benefit from the treatment.
James Westcott, Ph.D., chief executive officer of ThirtyFiveBio, emphasized the company's unique position: "We believe that we occupy a unique and advantageous position within the GPR35-targeted therapeutic space based on our deep understanding of GPR35 biology and how it contributes to GI-related diseases, including colitis and gut cancers."
"Our discussions with the teams at AbbVie Ventures, as well as Canaan and Mayewell Capital, generated an appreciation for both our competitive differentiation and scientific thought leadership," Westcott added. "The support from these premier investors offers great validation for the work that our team has already undertaken in this area, as well as the broad therapeutic potential of the platform moving forward."
Future Funding and Development Plans
ThirtyFiveBio plans to continue advancing its program toward clinical trials with the goal of establishing proof-of-concept in patients. The company has indicated it will seek additional partners through a syndicated Series A funding round later this year to support these objectives.
To date, ThirtyFiveBio has raised nearly $25 million in financing. The company was created by Molecule to Medicine (MTM), a drug discovery and development ecosystem, and Canaan Partners. It is headquartered on Milton Park, a key science precinct south of Oxford, UK.
The investment from AbbVie Ventures is particularly significant given AbbVie's established presence in the IBD treatment landscape. This strategic backing provides not only financial support but also validation of ThirtyFiveBio's scientific approach from a major player in the field.
Addressing Unmet Needs in Ulcerative Colitis
Ulcerative colitis, a form of IBD, is characterized by chronic inflammation of the colon and rectum. Current treatments, while effective for some patients, leave significant unmet needs. Many patients fail to achieve long-term remission or experience side effects that limit treatment options.
ThirtyFiveBio's GPR35 inhibitor program aims to address these challenges by targeting a novel mechanism that could potentially offer better outcomes for patients who don't respond adequately to existing therapies.
The company's work with world-leading academic GPR35 and clinical colitis specialists has positioned it at the forefront of this therapeutic approach. By pursuing antagonism of GPR35 specifically in ulcerative colitis patients, ThirtyFiveBio is pioneering a targeted strategy that could represent a significant advance in IBD treatment.
