Third Rock Ventures Unveils Merida Therapeutics with $121M Series A Funding for Autoimmune Pipeline

Merida Therapeutics, the latest biotech company to emerge from Third Rock Ventures, has launched with a substantial $121 million Series A financing round. The company aims to develop novel Fc-based therapeutics for autoimmune disorders, with a primary focus on Graves' disease.

Innovative Approach to Autoimmune Disorders

Merida's protein engineering platform is designed to create Fc therapeutics that specifically target pathogenic antibodies and the B cells responsible for their production. This approach represents a potential breakthrough in the treatment of autoimmune diseases by addressing their root causes.

"At the heart of Merida is understanding the mechanisms behind antibody-driven diseases like Graves' at the molecular level, and leveraging these insights to develop precision therapeutics that have thus far evaded the field," explained Dario Gutierrez, Ph.D., Merida's co-founder and chief scientific officer.

Diverse Pipeline Targeting Multiple Conditions

While Graves' disease remains the company's lead preclinical program, Merida is also developing treatments for other conditions:

1. An antibody aimed at neutralizing and eliminating IgE antibodies for allergic diseases
2. A potential therapy for primary membranous nephropathy, a chronic inflammatory kidney disease

Strategic Leadership and Investor Backing

Merida's launch comes with strong leadership and investor support. Adam Townsend, who recently joined as CEO after serving as chief operating officer at Apellis Pharmaceuticals, expressed enthusiasm about the company's potential: "For the first time, we have the potential to precisely target the clear pathogenic drivers of an intractable set of diseases with absolute selectivity and a degree of completeness and durability that has not been achievable through any approach to date."

The $121 million Series A round was co-led by Third Rock Ventures, Bain Capital Life Sciences, and BVF Partners, with participation from GV and Perceptive Xontogeny Venture Funds. This significant investment underscores the confidence in Merida's innovative approach and the potential impact of its therapies on patients with autoimmune and allergic diseases.