---
title: 'Funding Daily Summary: What Happened on November 1, 2026'
headline: Setara launches with $90 million for rare-disease drug
description: The Actio spinout will use the financing to advance a clinical-stage
  program for Charcot-Marie-Tooth disease type 2C and overactive bladder.
url: https://thebench.bio/news/funding/2026-11-01
topic: funding
date: '2026-11-01'
covers:
- '2026-11-01'
date_published: '2026-11-02T00:00:42Z'
date_modified: '2026-11-02T00:00:42Z'
tags:
- Industry
sources: 1
publisher: TheBench.Bio
---

# 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]

## The day in numbers

- **$90 million**: Financing for Setara’s launch and clinical-stage program. [1]

## Sources

1. [Rare Disease Biotech Setara Starts Out With $90M and a Lead Drug in the Clinic](<https://medcitynews.com/2026/11/setara-biosciences-startup-jazz-actio-charcot-marie-tooth-cmt2c-overactive-bladder-trvp4-ion-channel/>), MedCity News, 2026-11-01

---

TheBench.Bio wrote this from the reporting cited above, with a language model drafting and editing.

[1]: <https://medcitynews.com/2026/11/setara-biosciences-startup-jazz-actio-charcot-marie-tooth-cmt2c-overactive-bladder-trvp4-ion-channel/>