Connect Biopharma snags $115 million in Series C to develop arsenal of immune modulators

“We have come a long way” since Connect was founded in 2012, he added later. The company has additional operations in Shanghai, Melbourne, Australia, and San Diego.

The Series C was led by RA Capital Management, and included fellow new investors Lilly Asia Ventures, Boxer Capital and HBM Healthcare Investments. In early 2019, Connect snagged $55 million in Series B funding, which it used to fund a multiple ascending dose trial of its drug CBP-201 for atopic dermatitis.