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news.Clinical stage biotechnology company Q32 Bio has announced the conclusion of its merger with Homology Medicines, for an undisclosed sum.
Q32 Bio's bempikibart is being analysed in two Phase II trials to treat atopic dermatitis and alopecia areata. Credit: Towfiqu barbhuiya on Unsplash.
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With the deal closing, the merged business will now function under the name Q32 Bio.
Concurrent with the merger’s closure, Q32 Bio also finalised a $42m private placement.
The funding round saw participation from a syndicate of both current and new investors, including OrbiMed, Abingworth, Atlas Venture, Bristol Myers Squibb, Acorn Bioventures, Osage University Partners, CU Healthcare Innovation Fund, Sanofi Ventures, Agent Capital, among others.
Following the merger and investment, Q32 Bio has a financial reserve, including cash, cash equivalents, and investments, totalling nearly $130m, before accounting for final transaction-linked expenses.
These funds are projected to sustain the company’s operations until mid-2026.
Q32 Bio’s lead product candidate, bempikibart, is currently being analysed in two Phase II trials.
These double-blind, placebo-controlled studies are assessing the fully human anti-IL-7Rα antibody in treating atopic dermatitis (AD) and alopecia areata (AA).
The company anticipates reporting the top-line data from these studies in the second half of this year.
Apart from bempikibart, Q32 Bio’s ADX-097 completed a Phase I ascending dose trial in healthy volunteers.
The company is now moving forward with an open-label Phase II renal basket trial and plans to initiate a Phase II trial for ANCA-Associated Vasculitis (AAV) in the first half of next year.
Data from these trials are expected in the second half of 2025.
Q32 Bio CEO Jodie Morrison said: “It’s an exciting time to be transitioning into a publicly traded company as we prepare to complete and release results from two bempikibart placebo-controlled Phase II trials later this year and initiate the first Phase II trial for our lead tissue-targeted complement inhibitor ADX-097, and prepare to initiate a second ADX-097 trial in early 2025 with topline results expected for both by year-end 2025.
“With a solid financial foundation and investor syndicate, a world-class leadership team, and near-term data readouts in autoimmune and inflammatory diseases with significant unmet needs, we believe we are strongly positioned to enter the public markets, setting the stage for multiple potential opportunities for meaningful value creation.”
