Diagonal Therapeutics Secures $128 Million Funding to Target Rare Diseases

1. Diagonal Therapeutics, an antibody biotechnology company based in Cambridge, Massachusetts, has secured $128 million in funding to pursue rare diseases.
2. The funding consists of seed and Series A rounds supported by prominent investors such as BVF, Lightspeed Venture Partners, RA Capital Management, Frazier Life Sciences, Viking Global Investors, Velosity Capital, and Checkpoint Capital.
3. The biotech's primary targets include an orphan disease causing chronic anemia and another rare disease for which Merck's recently approved drug Winrevair is also indicated.
4. Diagonal Therapeutics' Chief Scientific Officer had contributed to the development of Merck's Winrevair before joining the company.
5. The biotech was founded by former executives from Dragonfly Therapeutics and Morphic Therapeutic.