AnaptysBio Inc., a company developing therapeutic antibodies for inflammation and immuno-oncology, announced Wednesday that it has raised $40 million in an oversubscribed Series D round.

Participants in this financing round include BVF Partners L.P. and its affiliates, BioMed Ventures, Cormorant Asset Management, Frazier Healthcare, HBM Healthcare Investments, Longwood Capital Partners, Novo A/S and additional undisclosed investors.

Proceeds from the financing are intended to advance AnaptysBio's anti-IL-33 and anti-IL-36 receptor antibody programs through key Phase 2 studies. The financing will also support the continued discovery of novel therapeutic antibodies against emerging target biology in inflammation and immuno-oncology using AnaptysBio's proprietary somatic hypermutation-based antibody discovery platform.

"The proceeds of this financing provide AnaptysBio with the financial strength to potentially demonstrate efficacy of our anti-IL-33 program in severe adult asthma and peanut allergy patients, while also advancing our anti-IL-36 receptor program to proof-of-concept in generalized pustular psoriasis," said Hamza Suria, president and CEO of AnaptysBio.