Connecticut Business E-News

rally
Fryer, Mackay, Fryer, all former Alexion executives

FARMINGTON: Rallybio, LLC, was established to identify and accelerate the development of transformative breakthrough therapies for rare disease, has raised $37.0 million in Series A funding.

5AM Ventures, Canaan Partners, and New Leaf Venture Partners led the financing, with additional public-sector participation from Connecticut Innovations.

Rallybio was co-founded in January of this year by Martin Mackay, PhD, Stephen Uden, MD, and Jeffrey Fryer, CPA.

Mackay was most recently the Executive Vice President, Global Head of R&D at Alexion Pharmaceuticals and has served as President, Research and Development at AstraZeneca

Uden was previously head of research at Alexion Pharmaceuticals, prior to Alexion, Uden led Wyeth’s research and development group and Novartis’ Oncology development programs.

Fryer, was previously Vice President, Chief Tax Officer with Alexion Pharmaceuticals, prior to Alexion, Jeff was a member of the finance organizations of Chemtura Corporation and Lydall, Inc.

The Company says it “will develop innovative drug candidates against mechanisms that have strong biological rationales. Rallybio’s focus is on antibodies, small molecules and engineered proteins.”

Canaan Partners is very pleased to join with New Leaf Venture Partners and 5AM Ventures in supporting the launch of Rallybio under the expert scientific and business leadership of Martin, Steve and Jeff, who have proven experience in executing on translational and clinical programs in severe and rare diseases,” said Timothy Shannon, MD, general partner, Canaan Partners. “Given their proven track records in developing important new medicines, we are confident that Rallybio has the potential to return the highest value for patients and their families, physicians, and investors alike.”