Ventyx Biosciences is the amalgamation of three biotechs, and now it's bringing together three autoimmune experts and another $51 million to back their work.
The Encinitas, California-based biotech secured the series B convertible preferred stock financing round to advance three core programs and also named three key appointments Monday.
After helping lead Viela Bio as R&D head and chief medical officer to a $3 billion exit to Horizon Therapeutics in the spring, Jörn Drappa, M.D., Ph.D. is joining Ventyx as CMO. Drappa's prior posts include serving as vice president of clinical development at AstraZeneca's MedImmune and senior medical director for inflammation and autoimmune diseases at Roche's Genentech.
RELATED: Ventyx bags $114M to test drugs against hot immunology targets
Drappa's hire comes as Ventyx names Luisa Salter-Cid, Ph.D., as chair of the scientific advisory board. Salter-Cid is the chief scientific officer of Pioneering Medicines and spent 13 years at Bristol-Myers Squibb.
Ventyx also named a new executive chair, Sheila Gujrathi, M.D., who was founding CEO of Gossamer Bio and chief medical officer of Receptos, acquired by Celgene. At Receptos, Gujrathi led the development of Zeposia, an S1P1R modulator approved for multiple sclerosis and ulcerative colitis.
That Zeposia background will be key to Ventyx's own S1P1R program. VTX002 is being studied in inflammatory bowel disease, or IBD, which includes ulcerative colitis and Crohn's disease.
Behind the S1P1R program, Ventyx is working on a TYK2 inhibitor that is currently being studied in a phase 1 clinical trial for the potential treatment of autoimmune diseases, including psoriasis and IBD.
RELATED: Horizon inks $3B deal to buy AstraZeneca spinout Viela for autoimmune drugs
The third program in Ventyx's pipeline is an NLRP3 inhibitor slated to enter the clinic in the second half of this year for systemic inflammatory diseases, the biotech said when combining with Oppilan Pharma and Zomagen Biosciences in March. The three companies came together with the backing of $114 million.
Surveyor Capital led the latest series B financing round, which included existing backers venBio Partners, OrbiMed and nearly a dozen other investment groups.