Gate Bioscience, a biotechnology company developing a new class of small molecule medicines aiming to eliminate disease-causing proteins at their source, today announced the close of a $65 million oversubscribed Series B financing. The Series B was led by new investor Forbion and was joined by additional new investor Eli Lilly and Company (“Lilly”), as well as existing investors Versant Ventures, Andreessen Horowitz (a16z) Bio + Health, GV and ARCH Venture Partners.
The funding will advance Gate’s lead molecular gate programs into the clinic and support the continued expansion of its differentiated molecular gate programs across inflammation and other therapeutic areas.
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In connection with the financing, Vanessa Carle, Ph.D., Principal at Forbion, will join Gate’s Board of Directors, contributing extensive experience in building and scaling innovative therapeutics companies across Europe and the United States.
“Gate represents a rare opportunity to invest in a truly differentiated therapeutic modality with significant advantages over existing treatments,” said Dr. Carle. “The Company’s molecular gate platform addresses high-value, clinically validated targets across multiple therapeutic areas with an oral small molecule approach, which is something that has eluded the field until now. With its experienced team and differentiated platform, Gate is uniquely positioned to disrupt treatment paradigms in inflammatory and neurological diseases, potentially unlocking significant value across underserved markets.”
Gate’s portfolio of molecular gates targets high value, well-validated proteins in inflammatory and neurological diseases, offering the convenience of a pill and the potential for superior efficacy through a novel mechanism of action. By eliminating inflammatory proteins like cytokines inside the cell before secretion, Gate’s approach may be more effective than treatments that act only after these proteins enter circulation. In the brain, molecular gates that easily cross the blood-brain barrier can address disease-causing proteins that traditional biologics cannot.
“Molecular gates have the potential to be transformative drugs for diseases where current treatments fall short,” said Jordi Mata-Fink, Ph.D., Co-Founder and CEO of Gate Bioscience. “Because the mechanism is so differentiated, we’ve been able to build a portfolio with low biology risk and best-in-class potential across multiple therapeutic areas. We’re also seeing the fruits of our platform investment, which has matured into a true drug discovery engine that allows us to make selective molecular gates repeatedly and efficiently, both for our own pipeline and for our biopharma partners. We are grateful for the support of Forbion, Lilly, and our existing investors, which will help us test the first molecular gate medicines in the clinic and continue to expand our portfolio.”
The proceeds from the Series B will advance Gate’s lead programs through IND-enabling studies and Phase 1 clinical trials to generate clinical proof-of-concept data. Additionally, the funding will support the discovery of molecular gates to target additional high value proteins and strengthen Gate’s discovery platform to enhance speed and efficiency.
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