Gate Bioscience Inc, a US company founded in 2021 to develop small molecule drugs targeting disease-causing extracellular proteins, has received $65 million in Series B financing to take its lead programmes into clinical development. This brings total capital raised for the company to $135 million. The financing was led by Forbion of the Netherlands with Eli Lilly and Co as a new investor.
Gate Bioscience has developed compounds that are expected to block extracellular proteins from being secreted by cells. More than 1,000 extracellular proteins are implicated in large diseases including cancer, neurodegeneration and fibrosis. This occurs when the proteins leave the cell and become part of extracellular matrixes that surround, support and give structure to cells and tissues in the body. According to the US National Cancer Institute, abnormal changes in the extracellular matrix can lead to the development of cancer and other diseases. Gate Bioscience’s technology indirectly targets the matrix by blocking the secretion of proteins in a channel before they leave the cell.
At least seven start-up companies are developing technologies targeting the extracellular matrix. According to Forbion, Gate Bioscience’s small molecule approach may deliver a more effective treatment because it degrades the disease-causing proteins at their source inside the cell. Proceeds from the Series B financing will advance the company’s lead programmes and expand the portfolio across inflammatory and other disease areas.
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