Jeito Capital participates in a $95 Million financing for HI-Bio™, a US-based clinical-stage biopharma company developing targeted therapies for patients with severe immune-mediated diseases

  • One year after its first investment, this new significant participation in HI-Bio™’s Series B financing, alongside major international investors, demonstrates the value creation already achieved by the company and underlines its attractiveness
  • With this 6th reinvestment within its portfolio today, Jeito Capital proves that its strategic roadmap is well on track with steady and significant progress being made by its portfolio companies in Europe and the US

Paris, France, January 4th 2024 – One year after Jeito Capital (“Jeito”) became a significant investor, through a $120 million financing round in Human Immunology Biosciences (“HI-Bio™”), a US-based clinical-stage biopharma company developing targeted therapies for patients with severe immune-mediated diseases, Jeito is pleased to confirm its support to HI-Bio™ with its significant participation in a $95 Million Series B financing aimed at advancing targeted therapies for severe immune-mediated diseases.

HI-Bio™ is a San Francisco-based Phase II clinical-stage biopharma company with also strong developments in Europe that has several late-stage clinical programmes and a strong translational platform, enabling it to address many diseases with unmet medical needs.

This reinvestment, alongside top-tier new investors, Alpha Wave Global as lead-investor, Viking Global Investors, Arkin Bio Capital and the other existing investor ARCH Venture Partners, showcase the value creation milestones reached by HI-Bio™, and Jeito’s commitment to mobilising funding for the development of breakthrough therapies for this sector with high unmet needs.

Funding from the Series B will be used to advance clinical development of felzartamab, HI-Bio™ clinically differentiated lead therapeutic candidate, which achieved breakthrough therapy and orphan drug designations from the U.S. Food and Drug Administration in PMN[1]. It will also serve to evaluate the clinical properties of another asset (HIB210) in healthy volunteers, and to advance a discovery-stage program targeting mast cell[2] dysfunction toward IND-enabling studies.

This 6th reinvestment within its 15 portfolio companies[3] reflects Jeito’s ambition to build and continuously support a solid and diversified portfolio of international leaders in healthcare innovative companies across therapeutic areas of high unmet needs. It also demonstrates that the strategic roadmap is relevant and well on track with steady significant progress made by the portfolio companies in Europe and the US.

Dr. Rafaèle Tordjman, MD, PhD, Founder and CEO of Jeito Capital, said: “Jeito’s second investment in HI-Bio™, alongside distinguished investors shows confidence in our ambition to support international companies developing groundbreaking therapies in areas of high unmet need. This 6th refinancing within our portfolio illustrates not only the progress made by the companies but also Jeito’s ability to support portfolio companies and their teams at each key milestone, with the ambition to build global leaders of innovative therapies with strong benefit for patients.”

Rachel Mears, Partner at Jeito Capital, added: “Since our first investment in November 2022, HI-Bio™ reached key milestones that show its strong potential for addressing patients’ significant unmet needs in the field of rare immune mediated diseases. Its deep experience in clinical development and with the drug approval process will be key to support the company in its next development phase. I would like to congratulate the entire HI-Bio™ team for this new step and look forward to continuing to support the advancement of HI-Bio™ breakthrough therapies.”

Travis Murdoch, M.D., CEO of HI-Bio, said: “These funds allow us to advance felzartamab, our clinically differentiated lead therapeutic candidate, through clinical readouts in multiple indications and preparation for registrational studies. We are encouraged by promising clinical data to date for felzartamab and its anti-CD38 cell depletion approach, and we look forward to new data, including Phase 2 results from an investigator-initiated trial for antibody-mediated rejection in kidney transplant patients.”

[1] Primary membranous nephropathy (PMN): Rare severe kidney disease with no disease-modifying treatment and eventually leading to kidney failure.

[2] Mast cells: Immune cells that contributes to allergic responses, inflammatory processes, and immune regulation.

[3] Including one exit in 2022.

About Jeito Capital

Jeito Capital is a global leading Private Equity fund with a patient benefit driven approach that finances and accelerates the development and growth of ground-breaking medical innovation. Jeito empowers and supports managers through its expert, integrated, multi-talented team and through the investment of significant capital to ensure the growth of companies, building market leaders in their respective therapeutic areas with accelerated patients’ access globally, especially in Europe and the United States. Jeito Capital has €534 million under management and a rapidly growing portfolio of investments. Jeito Capital is based in Paris with a presence in Europe and the United States.

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For further information please contact:

Jeito Capital
Rafaèle Tordjman
Jessica Fadel, EA
Tel: +33 6 33 44 25 47

H/Advisors Maitland
David Stürken
Tél. : +44 (0) 799 059 5913