AltruBio secures $225M for Phase II of immune checkpoint antibody

AltruBio has successfully secured an oversubscribed $225 million series B funding round aimed at advancing the mid-stage clinical program for its leading immune checkpoint enhancer, ALTB-268, in treating ulcerative colitis. CEO Judy Chou disclosed that the influx of capital will also facilitate the investigation of additional applications for ALTB-268, a compound that AltruBio believes holds extensive therapeutic potential.

This latest funding round follows a $63 million series A round raised in 2021 and was spearheaded by BVF Partners. The series B financing also saw participation from new investors, including RA Capital Management, Cormorant Asset Management, and Soleus Capital, as well as existing investors aMoon Fund and Blackstone Multi-Asset Investing.

Gorjan Hrustanovic of BVF Partners highlighted the critical need for innovative treatments in autoimmune diseases, particularly moderate to severe ulcerative colitis, noting that current treatment options are limited. He emphasized that ALTB-268 has the potential to be a pioneering therapy for various autoimmune conditions.

ALTB-268 operates as a PSGL-1 agonist antibody aimed at downregulating overactive T-cells by inhibiting their effector functions, thereby re-establishing immune system balance without causing systemic suppression.

In December, AltruBio started a Phase IIa exploratory biomarker study to assess ALTB-268 in patients with biologic refractory ulcerative colitis. The recent financing will now enable the company to initiate a Phase IIb randomized, placebo-controlled trial targeting patients with moderate-to-severe ulcerative colitis. The first segment of this study is anticipated to produce results in the first half of 2025, with the second part expected to yield data by the second half of 2026.