Setara Biosciences has launched with $90 million in Series A financing to develop programs left outside Jazz Pharmaceuticals’ acquisition of Actio Biosciences.
Jazz acquired Actio for $820 million upfront, primarily to obtain ABS-1230, an investigational treatment for KCNT1-related epilepsy. The deal also included potential additional payments, bringing the reported total value to about $1.3 billion.
Setara’s lead program is STAR-0871, a TRPV4 inhibitor being developed for Charcot-Marie-Tooth disease type 2C (CMT2C) and overactive bladder. The company also plans to advance earlier-stage programs in genetic epilepsies and other areas, including migraine.
The financing included Deerfield Management, Canaan, Droia Ventures, EcoR1, Euclidean Capital and Regeneron Ventures; Jazz also became a Setara shareholder as part of the transaction.
Actio founder David Goldstein will lead Setara, alongside several members of Actio’s former leadership team.
Sources:
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