Abcuro, a biotech company focused on the development of therapies targeted at autoimmune diseases and cancers, in particular via the precise modulation of cytotoxic T cells, has closed a Series C financing round at the value of $200 million. The round was led by New Enterprise Associates (NEA) with involvement from Foresite Capital and a list of pre-existing investors.

The funds will be utilised for the completion of the Phase 2/3 MUSCLE clinical trial to evaluate ulviprubart (ABC008), which is a monoclonal antibody-targeting killer cell lectin-like receptor G1 (KLRG1); This is for the treatment of inclusion body myositis (IBM). Upon successful completion of this, Abcuro then intends to file a BLA to support and prepare for commercial launch of the product.