Bond Biosciences Announces the Closing of a Series B Financing
Company completes a Series B financing to enable accelerated manufacturing timelines for BBI-001 and pipeline development.
NEW YORK, January 25, 2022-- Bond Biosciences, Inc. is a privately held biopharmaceutical company focused on the discovery and development of first-in-class non-absorbed oral therapeutics that bind excess ions in the gastrointestinal (GI) tract to treat or prevent human disease.
Bond’s clinical lead, BBI-001, an investigational new drug, is a non-absorbed oral therapeutic designed to bind dietary iron and inhibit iron absorption in patients that suffer from iron overload. Patients with excess iron in their body have a higher risk of liver diseases, certain cancers, joint pain, and metabolic diseases. BBI-001 will be initially developed to treat iron overload associated with Hereditary Hemochromatosis (HH), a genetic disorder that results in the over-absorption of dietary iron.
“The closing of our Series B financing will strengthen the development program for BBI-001 and advance our pipeline of non-absorbed, oral therapies,” said Dr. Cory Berkland, Bond’s CEO, Chairman of the Board and Co-founder. “We are encouraged with the pre-clinical data package for BBI-001.”
“We are grateful for the continued support of our investors and will be using the proceeds from the Series B to advance the manufacturing process for BBI-001, including the development of commercial scale capabilities,” said Michael Riley, Bond’s Chief Operating Officer, Member of the Board and Co-founder.
The Series B was led by Collage Partners, a division of CIM Securities LLC. “Since the Series A, not only has BBI-001 made good progress towards the clinic, but the team has conducted important commercial R&D,” said Dexter Pearson, a partner at the firm. “This financing enables the Company to accelerate development and realize the potential of BBI-001 to provide an important treatment designed to be safe, convenient, and effective for this major unmet need.”
BBI-001 is a novel investigational new drug that is a non-absorbed oral therapeutic that forms a high avidity and selective iron chelate in the digestive tract. BBI-001 was designed to rapidly and selectively bind dietary forms of iron to significantly reduce iron absorption in patients that suffer from iron overload due to HH. The structure and properties of BBI-001 have been designed to be restricted to the GI tract to maximize safety and speed regulatory approval. HH is a genetic disorder characterized by excessive intestinal absorption of iron from food resulting in a pathological increase in total body iron.
About Bond Biosciences
Bond is a privately held biopharmaceutical company focused on the discovery and development of first-in-class non-absorbed oral therapies that bind excess ions locally in the gastrointestinal (GI) tract to treat or prevent human disease. The Company’s portfolio is comprised of its lead, BBI-001, in addition to other research stage non-absorbed therapies.
Cory Berkland, CEO
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