Crossovers Fidelity, Surveyor invest early in ValenzaBio, backing $70M series A for rare autoimmune play

With a $70 million series A round led by Fidelity in a syndicate that included crossover Surveyor, start-up ValenzaBio is readying to take antibodies licensed from CRUK and Pierre Fabre into early clinical testing for rare autoimmune and inflammatory indications.

ValenzaBio Inc. emerged from stealth on Thursday with the A round, and ambitions to compete in indications where companies such as Horizon Therapeutics plc (NASDAQ:HZNP), MorphoSys AG (NASDAQ:MOR; Xetra:MOR) and Roche (SIX:ROG; OTCQX:RHHBY) are evaluating therapies...