U.S. clinical-stage biopharmaceutical company Landos Biopharma, Inc. has raised $60 million in Series B funding round.

The round was co-led by RTW Investments and Perceptive Advisors, which in conjunction with the funding joined the Landos board of directors.

Other new backers including Osage University Partners and PBM Capital also participated in the latest funding round.

Landos Biopharma plans to leverage the new funds to accelerate Phase 2 development of BT-11 for ulcerative colitis and Crohns as well as advance additional candidates to treat autoimmune diseases.