Jade Biosciences Inc., a biotechnology company dedicated to developing therapies for patients living with autoimmune diseases, has closed an $80 million financing 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 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. 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 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.”