Labrys Biologics begins operations with $31mm Series A financing, migraine antibody from Pfizer

Lead investor venBio has teamed with Canaan Partners, InterWest Partners, Sofinnova Ventures, and one other undisclosed backer in the $31mm Series A financing for Labrys Biologics Inc., which has concurrently licensed from Pfizer the Phase I antibody RN307. Labrys will advance the candidate, which targets the calcitonin gene-related peptide (CGRP), into Phase II for chronic migraine later this year. VenBio's managing director Corey Goodman, PhD (also a former Pfizer exec), is Labrys' founder. Representatives from Canaan Partners, InterWest, and Sofinnova have joined the start-up’s board.