BRIEF—Inozyme Pharma to use $49 million funding to progress rare disease pipeline

US biotech firm Inozyme Pharma today announced it has raised a $49 million Series A financing. The financing was led by Longitude Capital, and included participation from New Enterprise Associates (NEA), Novo Ventures and Sanofi Ventures.

“Our mission is to develop potentially disease-modifying therapies to help children who are affected with rare, but severe and debilitating disorders of metabolism. These patients have very poor treatment options,” said Axel Bolte, chief executive and co-founder of Inozyme Pharma, adding: “We have attracted a premier syndicate of healthcare investors who are committed to helping us achieve our goal, and this funding positions us well to advance our therapeutic approach.”

Inozyme Pharma was founded in 2016 with technology developed in the laboratory of Demetrios Braddock, and licensed from Yale University.

The company will use the proceeds from this financing to advance its lead enzyme replacement therapy for the treatment of generalized arterial calcification of infancy (GACI) and autosomal recessive hypophosphatemic rickets Type 2 (ARHR2) into the clinic

These disorders are characterized by mineral imbalances that lead to over calcification of soft tissues and under mineralization of bone.