Latigo Biotherapeutics Secures $150M in Series B for Non-Opioid Pain Treatments

Latigo Biotherapeutics, a biotechnology firm focusing on non-opioid pain treatments, has successfully secured $150 million in a Series B financing round. This capital influx will be pivotal in advancing Latigo's Nav1.8 inhibitors, which are part of the company's clinical programs targeting pain relief without the use of opioids. Alongside progressing their existing pipeline, the funds will support the development of new therapeutic options.

The financing round was spearheaded by Blue Owl Capital, with contributions from a host of significant investors including Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital. Current investors, such as Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments, also reaffirmed their commitment by participating in this round. This demonstrates strong confidence in Latigo's mission to provide safer and more effective pain management solutions.

Latigo's CEO, Nima Farzan, emphasized the urgent need for non-opioid pain treatments and expressed gratitude for the support from both new and existing investors. Farzan highlighted the potential of Latigo's developments to revolutionize the pain treatment landscape with non-addictive options.

With this new funding, Kevin Raidy from Blue Owl Capital joins Latigo's board of directors. Raidy noted the overdue necessity for innovation in pain management beyond opioid use and expressed optimism about Latigo's capacity to deliver effective non-addictive treatments. Timothy P. Walbert, chair of Latigo's board, welcomed Raidy and acknowledged his expertise in life sciences investing, which is expected to assist Latigo's strategic growth and scaling efforts. Walbert reiterated that this financial backing would enable Latigo to expedite their development of non-opioid treatments for both chronic and acute pain.

Latigo Biotherapeutics recently announced positive outcomes from Phase 1 trials for LTG-001, their leading candidate for non-opioid pain medication. LTG-001, an oral Nav1.8 inhibitor, has shown promising results in its initial human trials, demonstrating tolerability and quick absorption. Additionally, LTG-305, another oral Nav1.8 inhibitor, is undergoing Phase 1 clinical trials. This candidate is aimed at treating chronic pain, with trials assessing its safety, tolerability, and pharmacokinetics among healthy individuals through different dosage cohorts.

Latigo Biotherapeutics operates as a private clinical-stage company dedicated to developing cutting-edge non-opioid pain medications. Their aim is to offer effective and fast-acting pain relief options that minimize the risk of addiction, by targeting pain directly at its source. The company's work is poised to contribute significantly to the field of pain management, offering hope for safer alternatives in pain treatment.