āshibio Raises $40M in Seed and Series A Financing to Advance Therapies for Bone and Connective Tissue Disorders
Summary
The companys lead program is based on the discovery that the matrix metalloproteinase-9 (MMP-9) enzyme could serve as a novel target for FOP, as published in Journal of Bone and Mineral Research in February 2024. He has also held executive positions at multiple biotech companies during his career, including Sanofi and Dicerna Pharmaceuticals, where he led development programs for oncology and rare genetic diseases. It is extremely gratifying to be a part of such an impressive team of seasoned industry executives, clinicians, and researchers who are devoted to improving the lives of patients who have not been adequately served by currently available treatment options. Founded in 2022 by company CEO Pankaj Bhargava, M.D., and the team at MPM BioImpact, shibio exited stealth mode in June 2024 with $40 million in Seed and Series A financing. Its experienced and dedicated team of investment professionals, entrepreneurs, advisors and leading scientists translate scientific discoveries into breakthrough medicines and potential cures.