Aro Biotherapeutics Secures $41.5M Series B Financing

Aro Biotherapeutics, a clinical stage biotechnology company pioneering the development of tissue-targeted genetic medicines, today announced it has secured $41.5M in a Series B funding round. The round was led by Cowen Healthcare Investments, with participation from existing investors from Aro's Series A financing round in 2020, including Johnson & Johnson Innovation ? JJDC, Inc. (JJDC), Northpond Ventures, Healthcap and BVF Partners, L.P. In conjunction with the financing, Christopher Picariello, President, JJDC, has joined Aro's Board of Directors.

"We are appreciative of the support provided by this syndicate of leading life science industry investors," said Susan Dillon, Ph.D., Chief Executive Officer of Aro. "Aro is well positioned to advance our pipeline and progress the field by leveraging our Centyrin platform to enable efficient and tissue-targeted delivery of siRNA. This funding enables us to continue to pursue our mission and bring new medicines to patients who desperately need more effective treatments."

Aro will use the funds to advance development of its lead program, ABX1100, a novel potential treatment for patients with Pompe Disease. Aro recently announced the start of a first-in-human with ABX1100, and the Company anticipates that initial data from this study will be presented in 2024. In addition, the Series B funding will support new Centyrin-siRNA conjugate programs focused on the discovery of new therapies for autoimmune disorders.

About ABX1100

ABX1100, a novel potential treatment for Pompe Disease, is comprised of a CD71 receptor binding Centyrin conjugated to a small interfering RNA (siRNA) which specifically interferes with expression of Gys1 mRNA, thereby reducing levels and overall activity of the Gys1 enzyme in muscle tissues. ABX1100 demonstrated a favorable safety profile in GLP toxicology studies, with durable reductions in Gys1 mRNA in muscles supporting the potential for monthly or quarterly dosing. ABX1100 has received Orphan Drug Designation and Rare Pediatric Disease status from the United States Food and Drug Administration.

About Aro Biotherapeutics

Based in Philadelphia, Aro Biotherapeutics is a biotechnology company pioneering the development of tissue-targeted genetic medicines with a platform based on a proprietary protein technology called Centyrins. The company is developing a wholly owned pipeline of Centyrin-based therapeutic candidates for tissue-specific targeting of therapeutics for a diverse set of diseases. For more information, visit www.arobiotx.com.