Blacksburg pharmaceutical company raises $10 million in financing

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Landos Biopharma Inc. announced Thursday it has raised $10 million in financing from life sciences investment management firm Perceptive Advisors.

Blacksburg-based Landos is a biopharmaceutical company focused on improving treatments for autoimmune diseases. Perceptive Advisors, based in New York, will serve as the exclusive investor for the Series A round.

The company plans to partner on operational efforts with Boston-based Xontogeny LLC, a life sciences accelerator.

Landos was founded by serial entrepreneur and innovator Josep Bassaganya-Riera. The company’s mission is to accelerate the development of safer, more effective therapeutics for painful and debilitating autoimmune diseases including Crohn’s disease and ulcerative colitis.

Landos will focus its development efforts in a novel target pathway that has shown promise for the treatment of autoimmune diseases by engaging a unique mechanism of action that exerts potent anti-inflammatory effects.

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