Funding Daily Summary
Funding Daily Summary: What Happened on November 1, 2026
Setara launches with $90 million for rare-disease drug
The Actio spinout will use the financing to advance a clinical-stage program for Charcot-Marie-Tooth disease type 2C and overactive bladder.
Today in brief
Setara Biosciences began operating with $90 million to back a clinical-stage drug program from Actio Biosciences.1 The drug has completed the healthy-volunteer portion of a Phase 1 trial. Setara says it plans to test the drug in patients with Charcot-Marie-Tooth disease type 2C next year.1
Setara raises $90 million for Actio-originated drug
Setara Biosciences launched with $90 million in financing to develop STAR-0871, previously known as ABS-0871, for Charcot-Marie-Tooth disease type 2C and overactive bladder.1 Actio Biosciences’ rare-disease programs were separated into a new company after Jazz Pharmaceuticals acquired Actio.1
STAR-0871 selectively inhibits TRPV4, which is implicated in Charcot-Marie-Tooth disease type 2C and helps sense bladder fullness.1 The healthy-volunteer portion of the drug’s Phase 1 trial is complete. Setara says it plans to expand the study next year into a Phase 1b trial involving patients with Charcot-Marie-Tooth disease.1
Setara says it also plans a separate Phase 2a trial of the drug for overactive bladder.1 Setara’s Series A investors include Deerfield Management, Canaan, Droia Ventures, EcoR1, Euclidean Capital, Regeneron Ventures, and Jazz Pharmaceuticals.1