Attovia Therapeutics has secured $105m in an oversubscribed Series B financing round to expedite the development of its lead programmes and enhance its pipeline.
The latest funding brings the total capital raised by the company since its inception in June 2023 to $165m.
Goldman Sachs Alternatives headed the financing round with significant contributions from a consortium of new investors, including Nextech Ventures, Cormorant Asset Management, Redmile Group, Marshall Wace and EcoR1 Capital.
Existing investors Frazier Life Sciences, venBio and Illumina Ventures also participated.
Goldman Sachs Alternatives managing director within Life Sciences Investing, Colin Walsh, has joined Attovia’s board of directors.
Through initial clinical data readouts, Attovia will channel the funding proceeds towards advancing its lead programmes, ATTO-1310 and ATTO-002.
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The investment will support the expansion of its immunology and inflammation pipeline and the further development of the ATTOBODY platform.
Attovia specialises in creating spatially optimised biparatopic biologics derived from ATTOBODY.
ATTO-1310 is undergoing investigational new drug application (IND)-enabling studies and will enter clinical trials for atopic dermatitis and other pruritic diseases by the end of this year.
Attovia is also preparing to nominate a development candidate for ATTO-002 in late 2024 and aims to progress to IND next year.
The company is advancing discovery-stage programmes that extend the reach of the ATTOBODY platform to targets that are challenging to treat with drugs, providing potential for additional multi-specific combinations.
Attovia CEO Tao Fu stated: “The strong investor interest and timing of this financing underscore the rapid progress we made with Attovia’s differentiated pipeline since the company’s inception, and the unique potential of our proprietary platform to develop attractive, next-generation immunology product candidates.
“We are grateful for the support from such a strong group of investors, allowing us to advance our lead programmes to the clinic in the near term, further expand our pipeline in novel bi-specifics and catalyse potential business development opportunities.”
