AltruBio raises $225m for immune checkpoint development

AltruBio has raised $225 million in a successful Series B funding round aimed at advancing its clinical programs, particularly the development of its new immune checkpoint enhancer (ICE), ALTB-268. Leading the funding effort was BVF Partners, with significant contributions from new investors such as RA Capital Management, Soleus Capital, Cormorant Asset Management, and Delos Capital. Existing backers aMoon Fund and Blackstone Multi-Asset Investing also participated.

The primary objective of this funding is to support ongoing and planned Phase II clinical studies of ALTB-268, an ICE PSGL-1 agonist antibody targeted at treating ulcerative colitis (UC). ALTB-268 is currently being studied in a Phase IIa exploratory biomarker trial focusing on patients who have not responded to biological treatments for UC.

The main goal of this Phase IIa study is to achieve clinical remission as measured by the modified Mayo score, with results expected by the first half of 2025. Following this, AltruBio is set to commence a global, randomised, placebo-controlled Phase IIb clinical trial. This upcoming trial will focus on achieving clinical remission in both advanced therapy-experienced and treatment-naïve patients suffering from moderately to severely active UC. Results from this Phase IIb trial are anticipated in the latter half of 2026.

Dr. Judy Chou, President and CEO of AltruBio, expressed her gratitude for the new group of investors, highlighting how their support complements the backing from existing investors. She emphasized that this investment underscores the potential of AltruBio's programs and its mission to develop lasting biological therapies for autoimmune diseases. Dr. Chou noted that this substantial financial backing brings the company closer to advancing ALTB-268 through the current Phase IIa exploratory biomarker study and paving the way for the subsequent Phase IIb trial. Additionally, this investment sets the stage for potentially expanding the use of ALTB-268 beyond ulcerative colitis.

Overall, the secured funds will enable AltruBio to significantly progress its clinical research on ALTB-268, with the ultimate aim of providing durable and effective treatments for patients with autoimmune diseases. The company is enthusiastic about the potential impact of its ICE program and is committed to delivering innovative solutions in the field of immunology. As research continues, the medical community eagerly awaits the results of these pivotal clinical trials, which could offer new hope to patients with ulcerative colitis and possibly other autoimmune conditions in the future.