Biopharmaceutical company Surf Bio has announced a $16 million Series Seed funding round.
The financing was co-led by Breakout Ventures and the Perceptive Xontogeny Venture Fund (PXV Fund.)
The company will use the funds to advance its polymer-based drug delivery platform and accelerate the development of an ultra-rapid insulin for treatment of diabetes.
Bryan Mazlish, co-founder and CEO, Surf Bio, said:
“Surf Bio’s novel stabilisation platform holds the promise to enable pharmaceutical formulations that are not currently possible with today’s technologies.
“Our technology enhances the stability of a broad set of biologics including peptides, vaccines, and monoclonal antibodies to retain or optimize desired pharmaceutical properties at higher concentrations and higher temperatures.
“This should enable favourably differentiated products that create new opportunities for how biologics are delivered in the future.”
The biotech is leveraging its novel biotechnology platform to develop enhanced therapeutic solutions for therapeutic areas including diabetes, oncology, infectious diseases and gene therapy.
In addition to its lead ultra-rapid insulin program, Surf Bio has established multiple, ongoing collaborations with leading multinational pharmaceutical companies.
Ben Askew, PhD, Partner, PXV Fund for Perceptive Advisors, said:
“We are delighted to partner with Surf Bio in the development of its innovative formulation platform and novel ultra-rapid insulin.
“The Surf Bio team is exceptionally positioned to extend the technologies created by their drug stabilization platform to treatments for numerous therapeutic areas including diabetes, oncology, infectious diseases, and gene therapy.
“The funds will accelerate the development of both platform and insulin programs and we look forward to the first-in-human results.”
