Aeglea raises $44 mn led by Eli Lilly, Novartis

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Dr David G Lowe, co-founder, president and CEO, Aeglea Biotherapeutics

Aeglea Biotherapeutics, a biopharmaceutical company developing novel treatments for inborn errors of metabolism and therapies targeting tumor metabolism, announced the closing of a $44 million Series B financing.

The financing was led by existing investors Lilly Ventures and Novartis Venture Fund.

The proceeds from the financing will be used to support the continued development of Aeglea's innovative pipeline of engineered human enzymes that target diseases at the extremes of abnormal metabolism.

"New treatments for individuals with inborn errors of metabolism or hematologic and solid malignancies are urgently needed, and this financing enables us to advance our lead molecule into the clinical setting as well as pursue the preclinical development of our pipeline products to address significant unmet medical needs," said Dr David G Lowe, co-founder, president and CEO, Aeglea.

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