Triveni Bio Secures $115M Series B Funding to Boost Immunological and Inflammatory Therapies

Triveni Bio Inc., a biotechnology company based in Watertown, MA, has recently announced securing $115 million in Series B financing. This round of funding, led by Goldman Sachs Alternatives, also saw participation from new investors like Fidelity Management & Research Company and Deep Track Capital, along with existing Series A investors including Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus.

Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio, highlighted the significance of this financing round in accelerating the company's pipeline of novel drug targets. Specifically, the funds will support the development of Triveni's bispecific program, TRIV-573, which integrates two distinct mechanisms of action into one treatment.

This Series B financing follows a prior $92 million Series A round completed less than a year earlier. Alongside pipeline expansion, the company aims to enhance its data science platform focused on precision dermatology and bolster its leadership team. Notably, Bhaskar Srivastava, M.D., Ph.D., has recently joined as Chief Medical Officer.

Josh Richardson, M.D., Managing Director within Goldman Sachs Alternatives, expressed confidence in Triveni Bio's progress towards becoming a clinical-stage organization addressing unmet needs in immunological and inflammatory (I&I) disorders. He emphasized the importance of supporting the company through clinical proof-of-concept phases and beyond.

Triveni Bio plans to submit an Investigational New Drug (IND) application for its leading candidate, TRIV-509, in the first quarter of 2025. This monoclonal antibody inhibitor targets kallikreins 5 and 7 (KLK 5/7) and has demonstrated superior efficacy in multiple preclinical atopic dermatitis models compared to IL-4R inhibition. The TRIV-573 program combines KLK 5/7 inhibition with an established IL-13 mechanism, and the company continues to explore additional innovative combinations to further improve treatment outcomes.

Additionally, Triveni Bio is developing an antibody inhibitor targeting trypsin 1 and 2 for hereditary pancreatitis, a genetic disorder primarily caused by PRSS1 mutations. This condition, affecting approximately 10,000 individuals in the United States, currently has no approved treatments.

Triveni Bio is dedicated to pioneering novel antibody-based therapies for immunological and inflammatory disorders. By employing a genetics-informed, precision medicine approach, the company aims to establish early proof-of-concept in the drug development process through deep insights into genetic and mechanistic biology.