California-based immunology start-up Ouro Medicines, which is developing immune reset therapeutics for people living with chronic immune-mediated diseases, has announced its launch with $120 million in funding.
The company was founded by Monograph Capital in partnership with UK pharma major GSK (LSE: GSK). The Series A was co-led by TPG Life Sciences Innovations, NEA, and Norwest Venture Partners, with participation from Monograph Capital, GSK, UPMC Enterprises, Boyu/Zoo Capital, LongRiver Investments, and other unnamed investors.
"We see a tremendous opportunity to define the future of treatment for people with immune-mediated diseases because the standard of care today leaves a lot to be desired," said Jaideep Dudani, chief executive Ouro Medicines and portfolio principal, Monograph Capital, adding: "As a class, we believe TCEs have properties that make it possible to unlock immune system resets with periods of durable remission and without the need for ongoing immunosuppression. Being able to precisely target cell populations with a high-potency therapeutic is crucial to depleting whole lineages of pathogenic cell populations so that we can achieve immune reset."
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