$100 million gives Granite solid foundation for autoimmune work

Swiss-American biotech Granite Bio has exited stealth mode with $100 million in funding and plans to advance two experimental antibodies aimed at a range of autoimmune conditions.

The early-stage firm secured a $30 million series A backed by Versant Ventures and Novartis Venture Fund, while Forbion and Sanofi Ventures led a $70 million series B. The company will use the proceeds to progress two candidates that target key immune pathways involved in chronic inflammation.

Granite's lead program, GRT-001, is an antibody designed to deplete a subset of immune cells known as pro-inflammatory monocytes, which are associated with autoimmune disease and tissue inflammation. The drug is currently undergoing Phase I testing in healthy volunteers, with a follow-up study planned later this year in patients with inflammatory bowel disease.