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Asher Bio

YC S19

San Francisco, US · 3 employees · 11 known investors

Asher Bio develops selective immunotherapy drugs that target specific immune cell types to promote beneficial effects while minimizing toxicity. The company is advancing etakafusp alfa, a cis-targeting IL-2 candidate, for solid tumor treatment and applying its platform to oncology and infectious disease indications.

Also known as Asher Biotherapeutics · Asher Biotherapeutics, Inc. · AsherBio

BiotechHealthtechMedical DevicesUnited States of AmericaAmerica / Canada

Founders & leadership· Y Combinator alumni (S19)

IDIvana Djuretic
Ivana DjureticinFounder, CEO
AYAndy Yeung
Andy YeunginBoard Observer, Scientific Advisor, Founder

Investors · 11

Also in the syndicate · 2

Boxer CapitalBristol Myers Squibb

Funding

SEC filings, press & company announcements

$55M disclosed across 1 round · 2024

Source: company announcements and press reports — follow each round's link for the claim.

The YC application· Summer 2019 batch

Asher Bio YC Demo Day (S19) - We build better immunotherapies

Startup Pitches

Company profile

researched Aug 2026

Asher Biotherapeutics, Inc. (Asher Bio) is a South San Francisco-based biotechnology company developing precisely targeted immunotherapies for cancer, autoimmune disease and chronic viral/infectious disease. Its proprietary "cis-targeting" approach fuses a modified immunomodulatory protein, such as a cytokine with reduced receptor potency, to a targeting antibody, so that the immunomodulatory receptor is engaged only when the targeting antigen is present on the same cell. The stated aim is to overcome the pleiotropy of conventional cytokine therapies, which act on many immune cell types at once, by activating only the cell type that drives the desired therapeutic effect while limiting antagonistic and toxic effects from other cell types.

The lead program is etakafusp alfa (formerly AB248), a CD8+ T cell-selective interleukin-2 generated by fusing a reduced-potency IL-2 mutein to an anti-CD8-beta antibody. It is engineered to activate and expand CD8+ effector T cells while avoiding natural killer cells, which can act as a pharmacological sink and contribute to toxicity, and regulatory T cells, which are immunosuppressive. Etakafusp alfa is in an open-label Phase 1a/1b dose-escalation and expansion study (NCT05653882) as monotherapy and in combination with KEYTRUDA (pembrolizumab) in patients with recurrent locally advanced or metastatic solid tumors, including melanoma, renal cell carcinoma, non-small cell lung cancer and squamous cell carcinoma of the head and neck, previously treated with a PD-1 or PD-L1 checkpoint inhibitor. The company reports initial pharmacokinetic and pharmacodynamic data showing selective CD8+ T cell activation without substantial changes in Treg and NK cell numbers, initial evidence of anti-tumor activity and a generally well-tolerated safety profile.

Beyond the lead asset, the pipeline includes AB821, a CD8-targeted IL-21 intended to activate CD8+ T cells through a pathway complementary to IL-2, plus early-stage programs directed at CAR-T cells, myeloid cells and CD4+ T cells. The company states that preclinical proof of concept has been established for eight molecules spanning five immune agonists across four cell types, and that it is exploring strategic collaborations to access capabilities outside its core focus areas.

Founding story

Asher Bio was founded by Ivana Djuretic and Andy Yeung with support from Third Rock Ventures, and is located in South San Francisco. Before founding the company, Djuretic was Head of Cytokine Biology in Pfizer's Cancer Immunology Discovery Unit, and previously held roles at Celgene and Tempero Pharmaceuticals; she holds a PhD in immunology from Harvard University. The company's name derives from ancient Hebrew, where "Asher" means happy, blessed and fortunate, reflecting its stated mission around patient outcomes.

Business model

Clinical-stage biotechnology company funded by venture and institutional investors, developing proprietary drug candidates internally and pursuing strategic collaborations, including clinical trial collaboration and supply agreements, to extend its platform.

Traction

Etakafusp alfa has advanced into an ongoing Phase 1a/1b dose escalation and expansion trial (NCT05653882) with initial data reported as showing proof of mechanism, selective CD8+ T cell activation, early anti-tumor activity and a generally well-tolerated safety profile. Preclinical proof of concept is reported for eight molecules across five immune agonists and four cell types. Two presentations on the CD8-targeted cytokine pipeline were announced for the ASCO 2026 Annual Meeting.

Latest developments

In January 2025 the company announced a clinical trial collaboration and supply agreement to study etakafusp alfa in combination with a bispecific T-cell engager in patients with small cell lung cancer. In May 2026 it announced two presentations at the ASCO 2026 Annual Meeting covering clinical progress across its CD8-targeted cytokine pipeline. AB248 has been assigned the international nonproprietary name etakafusp alfa.

Full profile — market position, technology, go-to-market, geography, risks & controversies

Market position

The company positions cis-targeting as a response to the selectivity limitations of conventional cytokine and immune-based therapies, and describes etakafusp alfa as a potential best-in-class IL-2 for solid tumors.

Differentiation rests on dual engagement of an immunomodulatory receptor and a cell-type-specific surface marker on the same cell, which the company says confers selectivity that conventional immunotherapies acting indiscriminately across cell types cannot achieve, widening the therapeutic index. For etakafusp alfa specifically, selectivity for CD8+ T cells is intended to avoid NK-cell sink effects and immunosuppressive Treg activation.

Technology

The company's discovery platform engineers cis-targeted immunotherapies in three steps: defining the desired biology by determining which immune cell types drive benefit versus toxicity for a given immunomodulator; engineering the molecule by attenuating the immunomodulator's receptor affinity across all cell types and fusing it to a targeting moiety that binds a marker found only on the desired cell type, so avidity restores activity only on that cell; and optimizing the pharmacological profile. The platform is described as modular, allowing different immunomodulators and targeting antibodies to be combined, with components of earlier programs reused in follow-on molecules. Clinical proof of mechanism from the etakafusp alfa Phase 1a/1b trial is cited by the company as validation of the platform.

Go-to-market

Development proceeds through company-sponsored clinical trials, including combination studies with third-party agents such as pembrolizumab and a bispecific T-cell engager, and the company states it is exploring strategic collaborations to access capabilities outside its core focus.

Patients with recurrent locally advanced or metastatic solid tumors, including melanoma, renal cell carcinoma, non-small cell lung cancer and squamous cell carcinoma of the head and neck; the platform is also aimed at autoimmune and chronic viral/infectious disease indications.

Geography

Headquartered at 650 Gateway Blvd., Suite 100, South San Francisco, California.

Risks & controversies

The lead asset remains in early-stage (Phase 1a/1b) clinical development, with efficacy data limited to initial monotherapy and combination observations. The careers page notes email scams impersonating company recruiters targeting job candidates.

Compiled by commissioned research from 8 cited public sources — announcements, filings, and press listed under research sources below.

Key figures

latest reported

Company-reported or press-reported figures, each dated to when it was claimed — not independently audited.

Images

Asher Bio photo

Competitors · 2

by search overlap

Companies competing with Asher Bio for the same Google search keywords, organic and paid, via search-intersection analysis.

Timeline · 3

launches, deals, and filings
May 2026
Two presentations announced for the ASCO 2026 Annual Meeting

The company announced two presentations at the ASCO 2026 Annual Meeting highlighting clinical progress across its CD8-targeted cytokine pipeline.

source ↗

Jan 2025
Clinical trial collaboration and supply agreement for etakafusp alfa with a bispecific T-cell engager in small cell lung cancer

Asher Bio announced a clinical trial collaboration and supply agreement to evaluate etakafusp alfa (AB248) in combination with a bispecific T-cell engager in patients with small cell lung cancer.

source ↗

Apr 2024
Asher Bio closes $55 million Series C financing

Series C financing led by RA Capital Management with new investors AstraZeneca and Bristol Myers Squibb and existing investors Janus Henderson Investors, Third Rock Ventures, Wellington Management and Boxer Capital; proceeds to fund AB248 through Phase 1b monotherapy expansion data and initial results from the pembrolizumab combination.

$55M source ↗

Dated company events from announcements, filings, and press; legal rows summarize public dockets and regulator releases.

In the news

Research sources · 8

primary sources listed

8 public sources were cited for this profile; the first-party ones are listed here.

Frequently asked questions

What does Asher Bio do?
Asher Bio develops cis-targeted immunotherapies that activate selected immune cell types, led by CD8-targeted IL-2 etakafusp alfa.
Who founded Asher Bio?
Asher Bio was founded by Ivana Djuretic, Andy Yeung.
Who are Asher Bio's investors?
Asher Bio's investors include Emles Venture Partners, GoAhead Ventures, Mission Bay Capital, Mission Biocapital, RA Capital, Y Combinator, Janus Henderson Investors, Third Rock Ventures and 1 more.
How much funding has Asher Bio raised?
Asher Bio has disclosed $55M raised across 1 round.
Where is Asher Bio headquartered?
Asher Bio is headquartered in San Francisco, US.