Principia gets $50mm through Series B round; round closes at $65.9mm

Principia BioPharma Inc. (small-molecule therapeutics for autoimmune diseases, inflammation, and oncology) raised $50mm through its Series B round. Sofinnova Ventures led (and takes a board seat) and was joined by all of Principia’s existing investors, including Morgenthaler Ventures, New Leaf Venture Partners, OrbiMed, SR One, Mission Bay capital, and others. Proceeds will fund advancement of the company’s preclinical pipeline, comprised of an oral BTK inhibitor for autoimmune disease and cancer, an oral selective FGFR inhibitor for solid tumors, and an IL-17 pathway inhibitor for a variety of autoimmune and inflammatory diseases.