trending Market Intelligence /marketintelligence/en/news-insights/trending/duhciqzhrl_ugpsvairnpg2 content esgSubNav
In This List

Sublimity Therapeutics raises $64M to develop bowel disease drug

Blog

A Pharmaceutical Company Capitalizes on M&A Activity with Brokerage Research

Blog

2021 Year in Review: Highlighting Key Investment Banking Trends

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Global M&A By the Numbers: Q3 2021


Sublimity Therapeutics raises $64M to develop bowel disease drug

Sublimity Therapeutics Ltd., previously known as Sigmoid Pharma Ltd., raised $64 million in a funding round co-led by OrbiMed Advisors LLC and Longitude Capital Management Co. LLC with participation from HBM Healthcare Investments AG.

The Dublin-based company will use the funds to develop STI-0529, a potential treatment for moderate to severe ulcerative colitis — a chronic, inflammatory bowel disease that causes inflammation in the digestive tract.

STI-0529 is an orally delivered soluble formulation of cyclosporine, a treatment used for several inflammatory diseases, including rheumatoid arthritis, psoriasis and Crohn's disease.

The company also appointed Anthony Giovinazzo as its executive chairman, Albert Agro as CEO and director, and Andrew Williams as CFO.

Giovinazzo, Agro and Williams are former executives of Cynapsus Therapeutics, a specialty pharmaceutical company that was bought by Sunovion Pharmaceuticals Inc. in 2016.

OrbiMed's David Bonita, Longitude Capital's Josh Richardson and HBM Healthcare's Alexander Asam were also appointed to the company's board.