US-based private equity firm 108 BioCapital has committed USD 20 million in funding to Pinwheel Therapeutics, a clinical-stage biopharmaceutical company developing a novel anticoagulant reversal agent, as part of efforts to accelerate the company’s mid-stage clinical development programme.
The investment marks a significant step for 108 BioCapital’s growth equity strategy in life sciences and biotechnology.
The capital injection will support Phase 2b clinical development of Ciraparantag, a small-molecule anticoagulant reversal therapy designed for use in emergency and acute care settings such as trauma, intracranial haemorrhage and urgent surgical procedures.
Ciraparantag is intended to act as a universal reversal option for anticoagulant medications in hospital environments, addressing a gap in rapid, broad-spectrum anticoagulation management.
Pinwheel Therapeutics holds worldwide rights and patents for Ciraparantag through at least the first quarter of 2034, with flexibility to re-license certain territories, potentially unlocking early revenues and reducing programme risk ahead of future strategic milestones.
108 BioCapital has completed its first close of over USD 40 million and is backed by a roster of prominent investors, including the family office of Mike Bingle of Silver Lake Partners, the family office of Ranjan Pai, CMD of Manipal Group, Suresh Vazirani of Erba-TransAsia Group, and Siddharth Parekh, founder of Paragon Partners, among others. The fund is initiating operations with a focus on high-impact biotech and medtech companies addressing significant unmet medical needs with clear regulatory and commercial readiness potential.
The investment in Pinwheel Therapeutics represents 108 BioCapital’s inaugural commitment and positions the firm in the under-penetrated anticoagulant reversal market, which is estimated to be worth more than USD 1 billion globally.
