Clinical-stage biotechnology company Yarrow Bioscience announced today that it has completed its merger with VYNE Therapeutics, simultaneously closing a roughly $200 million private placement financing.
The combined entity will continue to operate under the Yarrow Bioscience name, and its common shares are expected to begin trading on the Nasdaq Capital Market on July 28 under the ticker symbol "YARW."
Yarrow's core pipeline candidate, YB-101, is a potential first-in-class monoclonal antibody targeting the thyrotropin receptor. By blocking TSHR, the drug aims to directly intervene in the core disease mechanisms of Graves' disease and thyroid eye disease.
YB-101 has already initiated a Phase IIa/IIb clinical trial for patients with GD and has received Fast Track designation from the U.S. FDA. Data from the Phase IIa portion is expected to be released in the second half of 2027.
The company's president and chief executive officer stated that current treatments for GD and TED have limitations, and YB-101, by targeting TSHR, has the potential to directly block disease progression, offering a new therapeutic option for patients.
The financing was led by RTW Investments, with participation from OrbiMed, Janus Henderson Investors, and other institutions. The proceeds are expected to sustain the company's operations through 2028.
Yarrow plans to launch a Phase IIb dose-finding study involving approximately 200 patients in the first half of 2028, following the availability of Phase IIa data.
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