On April 16, 2024, Asher Biotherapeutics, a biotechnology company developing precisely targeted immunotherapies for cancer, autoimmune, and infectious diseases, announced the successful completion of a $55 million Series C financing. The round was led by RA Capital Management, and included new investors AstraZeneca and Bristol Myers Squibb, along with existing investors Janus Henderson Investors, Third Rock Ventures, Wellington Management, Boxer Capital, and other undisclosed institutional investors. Wilson Sonsini advised Asher Biotherapeutics on intellectual property matters related to the transaction.

Asher Biotherapeutics plans to use the proceeds from the financing to advance the clinical development of its lead program, AB248, a highly differentiated CD8-targeted IL-2 immunotherapy, through Phase 1b monotherapy expansion data, as well as initial safety and efficacy results from the ongoing combination with pembrolizumab.

The Wilson Sonsini team that advised Asher Biotherapeutics on IP matters related to the transaction includes Bill Barrett, Xiaoyang Tang, and Wei Huang.

For more information, please see Asher Biotherapeutics' news release.