12:00 AM
Jan 07, 2013
 |  BioCentury  |  Finance

Lifting the Labrys against migraine

Pfizer spinout Labrys: Investors see best, first in class potential in migraine

Investors in Pfizer Inc. spinout Labrys Biologics Inc.'s $31 million series A round expect the newco's anti-CGRP mAb to be both best- and first-in-class for chronic migraine prophylaxis.

venBio led last week's round, with Canaan Partners, InterWest Partners and Sofinnova Ventures participating.

Labrys' RN-307, a mAb that binds to calcitonin gene-related peptide (CGRP), has completed Phase I testing. The compound was developed by Rinat Neuroscience Corp., which Pfizer (NYSE:PFE) acquired in 2006. Labrys has exclusive, worldwide rights from the pharma, which shelved the program because migraine was not a priority, according to venBio's Corey Goodman.

Goodman is Labrys'...

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