The financing was led by Fairmount and Venrock Healthcare Capital Partners with participation by Deep Track Capital, Driehaus Capital Management, Franklin Templeton, RTW Investments, and Braidwell LP. The funding will be used to support Jade's plans to develop targeted therapies for indications with high unmet need across inflammation and immunology.
The company named Andrew King, D.V.M., Ph.D., as Chief Scientific Officer, bringing more than 15 years of leadership experience across biotech and pharmaceutical industries to the organization. Dr. King previously served as Chief Scientific Officer of Chinook Therapeutics, a clinical-stage biopharmaceutical company developing precision medicines for rare, severe chronic kidney diseases, where he oversaw the discovery research, non-clinical development, and translational medicine teams, and played a leadership role in driving clinical development strategy.
"We are confident that our preclinical stage assets, engineered by the exceptional team at Paragon, have the potential to change the treatment landscape for patients living with autoimmune diseases," said Dr. King. "The company is backed by a strong slate of investors who helped fund the company and support its vision of delivering transformative therapies to patients in need."
Jade is the fourth company to launch based on assets discovered and developed by Paragon Therapeutics, which include Apogee Therapeutics, Spyre Therapeutics, and Oruka Therapeutics.
About Jade Biosciences:
Jade Biosciences is developing transformative therapies to redefine the standard of care for inflammation and immunology indications. Jade is headquartered in Waltham, MA.
About Paragon Therapeutics:
Paragon Therapeutics, Inc. is a biotechnology company leveraging cutting-edge science and technology to identify and propel potentially best-in-class biologics into the clinic for a range of human diseases with high unmet needs. The company rapidly advances therapies through a range of opportunities, from new company creation and strategic partnerships to shaping programs in-house. Paragon Therapeutics was founded by Fairmount in 2021 and is based in Waltham, MA.
For more information, please visit www.paragontherapeutics.com.
