Liberate Bio Raises $31M for In Vivo CAR-M Therapy, Targeting Safer Immune Reset

CAMBRIDGE, Mass. – Oct 15, 2025 – Liberate Bio, Inc., a biotechnology startup aiming to develop genetic medicines that reprogram immune cells $\text{in}$ $\text{vivo}$, has raised $31 $\text{million}$ in $\text{seed}$ $\text{funding}$ exclusively from $\text{Khosla}$ $\text{Ventures}$. The company is now embarking on a $\text{Series}$ $\text{A}$ round as it accelerates its first $\text{in}$ $\text{vivo}$ cell therapy toward human trials.

Liberate is distinguishing itself in the crowded $\text{in}$ $\text{vivo}$ cell therapy space by focusing on monocytes and $\text{macrophages}$ ($\text{CAR–M}$), rather than the more common $\text{T}$ $\text{cells}$ ($\text{CAR–T}$). The company believes this approach offers a potentially safer $\text{profile}$ with fewer toxic side effects and the ability to better penetrate hard-to-reach disease sites, such as the bone marrow and solid tumors.

Preclinical Data Signals Superior B-Cell Depletion

New preclinical data from a non-human primate ($\text{NHP}$) study, presented today at the $\text{American}$ $\text{Society}$ $\text{of}$ $\text{Gene}$ $\text{and}$ $\text{Cell}$ $\text{Therapy’s}$ $\text{cancer}$ $\text{conference}$ in $\text{Philadelphia}$, validates the $\text{CAR–M}$ strategy.

• Potency: A single infusion of the therapy, which uses $\text{lipid}$ $\text{nanoparticles}$ ($\text{LNPs}$) to $\text{deliver}$ $\text{mRNA}$, created $\text{CAR–M}$ cells that depleted $90\%$ of circulating $\text{B}$ $\text{cells}$. A second infusion four days later achieved $99\%$ depletion within two days.
• Safety Advantage: Fewer $\text{than}$ $1\%$ $\text{of}$ $\text{T}$ $\text{cells}$ took up the therapy, according to $\text{Liberate}$ $\text{Chief}$ $\text{Scientific}$ $\text{Officer}$ $\text{Walter}$ $\text{Strapps}$, $\text{Ph.D}$., suggesting the $\text{B–cell}$ $\text{depletion}$ is driven by the macrophage compartment, which could translate to a reduced risk of severe side effects like $\text{Cytokine}$ $\text{Release}$ $\text{Syndrome}$ ($\text{CRS}$).
• Key Milestone: The company reports this as the first $\text{demonstration}$ $\text{of}$ $\text{B}$ $\text{cell}$ $\text{depletion}$ $\text{in}$ $\text{monkeys}$ using an $\text{in}$ $\text{vivo}$ $\text{CAR–M}$ therapy.

AI-Driven $\text{LNP}$ Platform and Clinical Plans

Liberate $\text{Bio}$ was co-founded in $2022$ based on research from the $\text{University}$ $\text{of}$ $\text{Pennsylvania}$ and $\text{University}$ $\text{of}$ $\text{Minnesota}$, utilizing $\text{AI}$ to generate over $3$ $\mathbf{million}$ variations of cationic ionizable lipids for $\text{LNP}$ development. The company’s unique approach uses genetic barcoding and $\text{RNA}$ $\text{sequencing}$ in primates to rapidly screen and identify $\text{LNPs}$ that effectively target immune cells outside the liver.

• Selective Delivery: The company found its lead $\text{LNPs}$ were taken up by $97\%$ $\text{of}$ $\text{monocytes}$ $\text{and}$ $\text{macrophages}$ in the blood.
• Clinical Timeline: $\text{Liberate}$ $\text{CEO}$ $\text{Shawn}$ $\text{Davis}$, $\text{Ph.D}$., stated the goal is to bring the first $\text{in}$ $\text{vivo}$ $\text{CAR–M}$ candidate into an investigator-initiated clinical study in the second $\text{half}$ $\text{of}$ $2026$, focusing on both $\text{autoimmune}$ $\text{disease}$ and $\text{cancer}$. The company is exploring jurisdictions like $\text{China}$ for its initial clinical test to gain potential advantages in time and cost.

The surge in interest for $\text{in}$ $\text{vivo}$ cell therapies has recently seen major acquisitions by $\text{AbbVie}$, $\text{AstraZeneca}$, $\text{Bristol}$ $\text{Myers}$ $\text{Squibb}$, and $\text{Gilead}$ $\text{Sciences}$, with experts estimating over $70$ companies now competing in the space.