The LifeArc-founded and backed biotech company RQ Bio has this week announced the completion of an oversubscribed $115 million (£85.5 million) Series A financing to advance its long-acting antibody programme for the prevention of influenza.

We co-founded and helped build RQ Bio, providing early investment, strategic support, initial start-up facilities, and drug discovery expertise, including CMC de-risking and antibody engineering.

“RQ was co-founded by an exceptional group of UK scientists and LifeArc Ventures several years ago. The RQ team have worked rapidly to progress their research in influenza prevention and with the funding announced today will be able to progress their lead programme into clinical development next year. The oversubscribed Series A is a testament to the scientific excellence and focused drive of the RQ team and is a great example of first-class British science being backed for success on the global stage.”

Clare Terlouw, Managing Partner at LifeArc Ventures

The financing was led by Frazier Life Sciences, with participation from new investors EQT Life Sciences, Forbion, Monograph and Wellington Management, alongside founding investor LifeArc Ventures, as well as shareholders Oxford Science Enterprises and the University of Oxford.

Proceeds will support the clinical development of the company’s lead programme, RQB01, which is currently in IND-enabling studies and is designed to provide protection against seasonal influenza with a single administration.

RQB01 is designed to deliver potent and broad protection against influenza through a dual mechanism of action targeting conserved epitopes resilient to seasonal variation. A combination of broad strain coverage, potent neutralising activity and extended duration of action could establish a new approach to influenza prophylaxis, particularly for high-risk and immunocompromised populations.

“Influenza remains a serious and persistent threat for patients whose immune systems cannot rely on vaccination alone. Our vision is to develop a preventative therapy capable of delivering reliable protection for an entire flu season with a single administration.”

Mike Westby, Chief Executive Officer of RQ Bio

The company also announced the appointment of biotechnology industry veteran Christian S. Schade as Executive Chairman.