SAN MATEO, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Bluejay Therapeutics, a leader in the development of novel therapeutics, today announced the successful closure of a $182 million Series C financing round. This capital infusion will accelerate the clinical development of BJT-778, as the treatment for chronic hepatitis D (HDV). The funds will also support the progression of additional promising candidates in Bluejay's robust pipeline for the treatment for chronic hepatitis B. As previously announced, BJT-778 has received PRIME designation from EMA based on early results from the Phase 1/2 study in HDV.
This financing round was co-led by Frazier Life Sciences and a life science focused institutional investment firm, with significant contributions from both new and existing investors, including RA Capital Management, T. Rowe Price, Wellington Management, Novo Holdings, RiverVest Venture Partners, Octagon Capital, Arkin Bio Ventures, HBM Healthcare Investments and Unicorn Capital.
Following the completion of the Series C financing, Bluejay is excited to welcome New Board Member, Daniel Estes, a General Partner at Frazier, to its Board of Directors.
"We are immensely grateful for the robust support from both new and returning investors, which reflects confidence in our strategy and our team’s ability to deliver on our mission," said Dr. Keting Chu, Founder and CEO of Bluejay Therapeutics. "This funding not only empowers us to drive our lead assets through critical clinical trials but also enhances our capacity to address significant unmet medical needs in global health."
About Bluejay Therapeutics
Bluejay Therapeutics is a private biopharmaceutical company focused on the development of treatments for viral and liver diseases. The Company’s lead program, BJT-778 is a potentially best-in-class fully human IgG1 monoclonal antibody against hepatitis B surface antigen (anti-HBsAg mAb), being developed for both chronic HBV and HDV. BJT-778 is designed to provide anti-HBV and anti-HDV benefits by neutralizing and clearing HBV and HDV virions as well as by depleting HBsAg-containing subviral particles, which may help to reconstitute a subject’s antiviral immunity and contribute to functional cure for CHB. Bluejay is also developing and advancing other innovative programs for chronic HBV, including a proprietary TLR9 agonist (Cavrotolimod) and a liver targeted transcript inhibitor (BJT-628), with the goal of achieving higher rates of functional cure. For more information on Bluejay, please visit the company’s website at www.bluejaytx.com.
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