OrbiMed, Longitude co-lead $64m Sublimity round

The financing is earmarked to help further the development of treatment for moderate to severe ulcerative colitis. 

In conjunction with the financing, the company has appointed new members to both the executive management team and its board of directors. Anthony Giovinazzo has been appointed executive chair; Albert Agro has been appointed as CEO and director; and Andrew Williams has been appointed CFO. 

OrbiMed is a healthcare investment firm with more than $14bn in assets under management; Longitude Capital is a private investment firm that makes venture growth investments in biotechnology and medical technology companies that seek to improve clinical outcomes, while HBM Healthcare Investments invests in the healthcare sector.

Company 
Headquartered in Dublin, Ireland, Sublimity is a biotech company that develops STI-0529, for the treatment of moderate to severe ulcerative colitis. Sublimity has a strategic collaboration with Dr Falk Pharma, which included an upfront equity investment in Sublimity, and calls for development funding, milestone payments and tiered double-digit royalties for the future development and commercialisation of STI-0529 and related products in Europe.

People
Sublimity Therapeutics – Anthony Giovinazzo (executive chair).
OrbiMed – David Bonita (managing director).
Longitude Capital – Josh Richardson (managing director).

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• Topics
• Early-stage
• UK / Ireland
• Healthcare
• Ireland
• Venture