Latigo Biotherapeutics, a Thousand Oaks, CA-based clinical-stage biotechnology company developing non-opioid pain treatments, raised $150M in Series B funding.
The round was led by Blue Owl Capital, with participation from Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, Kern Capital and existing investors Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments. As part of the financing, Kevin Raidy, senior managing director at Blue Owl Capital, has joined Latigo’s board of directors.
The company intends to use the funds to expand operations and its development efforts.
Led by Nima Farzan, chief executive officer, Latigo Biotherapeutics is a clinical-stage biotechnology company developing innovative non-opioid pain medicines with potential best-in-class profiles that directly target the source of pain. It recently reported positive Phase 1 results for LTG-001, its lead potential best-in-class non-opioid pain medicine candidate. It is an oral, selective Nav1.8 inhibitor in development to treat acute pain at its source. In the Phase 1 first-in-human clinical trial, data showed that LTG-001 was well tolerated with rapid absorption.
LTG-305, oral, selective Nav1.8 inhibitor, currently in Phase 1 clinical trials, is a potential best-in-class non-opioid therapeutic candidate for the treatment of chronic pain. The Phase 1 trial is designed to evaluate the safety, tolerability, and pharmacokinetics of LTG-305 in healthy volunteers through single-ascending dose and multiple-ascending dose cohorts.
FinSMEs
17/03/2025