AltruBio, a San Francisco, CA-based clinical stage biotechnology company, raised up to $225M in Series B funding.
The round was led by BVF Partners LP, with participation from new investors RA Capital Management, Cormorant Asset Management, Soleus Capital and existing investors aMoon Fund and Blackstone Multi-Asset Investing, among others.
The company intends to use the funds to advance the clinical development of its immune checkpoint enhancer (ICE) PSGL-1 agonist antibody, ALTB-268, and to support ongoing and planned Phase 2 clinical trials in ulcerative colitis (UC).
Led by CEO and President Dr. Judy Chou, AltruBio is a clinical-stage biotechnology company that specializes in developing novel therapies leveraging immune checkpoint agonism to enhance the function of natural pathways to downregulate an overactivated immune system. Its research team discovered the novel role PSGL-1 plays as an important immune checkpoint regulator and leveraged its ability to downregulate chronic effector T-cell function and promote down regulation. Clinical data validates proof of mechanism of the company’s ICE therapy, ALTB-168, through enhancement of PSGL-1 function. ALTB-168 is designed to preferentially downregulate chronically activated late-stage T-cells in several diseases including ulcerative colitis, steroid refractory acute graft-versus-host disease (SR-aGvHD), psoriatic arthritis, and psoriasis, and was shown to be well tolerated with durable responses. Leveraging the same binding domain and novel mechanism demonstrated for ALTB-168, the company is advancing a tetravalent ICE, ALTB-268, making it suitable for subcutaneous and patient-friendly administration.
AltruBio aims to bring durable biologic treatments to improve the lives of patients.
FinSMEs
21/05/2024