Alto Neuroscience, a Los Altos, CA-based company providing precision psychiatry by developing targeted medicines, raised an additional $25M in Series B funding, which now totals $60M.
New backer Alpha Wave Ventures made the investment. In addition, the company entered into a credit facility with K2 HealthVentures for up to $35M. Total equity capital raised to approximately $100M since Alto was founded in 2019. In conjunction with the Series B financing, Chris Dimitropoulos, Managing Director of Biotechnology Investments at Alpha Wave Global, joined the Alto Board of Directors.
The company intends to use the funds to conduct a total of four Phase 2 readouts with four novel drug candidates across three indications, as well as the continued evolution of its Precision Psychiatry Platform™.
Alto Neuroscience leverages a Precision Psychiatry Platform, which measures brain biomarkers by analyzing EEG activity, behavioral task performance, wearable data, genetics, and other factors to match each patient with the right Alto drug. Its clinical-stage pipeline includes novel drug candidates in depression, PTSD, and other mental health conditions, resulting in the broadest and psychiatry effort.
FinSMEs
30/01/2023