The company intends to utilise the funds to continue its ongoing Phase Ib clinical trial and begin two additional Phase Ib studies this year.
It also plans to further expand its pipeline through research and development.
SalubrisBio CEO Sam Murphy said: “SalubrisBio is poised for a transformational year and I’m excited about the remarkable opportunities that lie ahead for us.
“We are focused on advancing our programmes and securing additional funding to progress the development of our portfolio of antibody fusion proteins and other complex biologics.”
The company has developed a drug discovery and development platform for addressing significant unmet medical requirements in cancer, cardiovascular, and neurodegenerative diseases.
Its lead asset, JK07, is a recombinant fusion protein that includes a fully human immunoglobulin G1 monoclonal antibody and the human growth factor neuregulin’s [NRG-1] active polypeptide fragment.
At present, the fusion protein is in Phase I studies to evaluate its tolerability and safety, in addition to exploring the activity in heart failure patients with reduced ejection fraction [HFrEF].
SalubrisBio stated that JK07 is claimed to be the first bi-specific antibody to enter a clinical trial in a cardiovascular indication across the world.
The protein showed a favourable safety profile as well as signals of clinical benefit as per the findings obtained from the Cohort 1 (n=5) of the ongoing placebo-controlled, randomised, dose-escalation, double-blind trial.
The company has commenced subject enrolment in the second cohort of JK07 Phase I dose escalation study.
Additionally, the FDA has agreed on the commencement of a Phase I study of the therapy in heart failure with preserved ejection fraction [HFpEF].