Hereditary Pancreatitis

— Series B led by Goldman Sachs Alternatives with participation from Fidelity Management & Research Company, Deep Track Capital, and existing investors — — Funding will advance second-generation anti-kallikrein 5/7+IL-13 bispecific (TRIV-573) through clinical proof-of-concept — — Lead antibody program TRIV-509 IND submission on track for 1Q 2025 — WATERTOWN, MA, USA I October 2, 2024 I Triveni Bio Inc., a biotech company advancing novel antibody treatments for I&I disorders, today announced a $115 million Series B to support pipeline expansion. The round was led by Goldman Sachs Alternatives with significant participation from additional new investors Fidelity Management & Research Company and Deep Track Capital, and Series A investors Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus. “We have built a differentiated pipeline of novel drug targets,” said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. “The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action.” The Series B financing follows a $92 million Series A completed less than a year ago. In addition to pipeline advancement, Triveni is expanding its data science platform with a focus on precision dermatology and strengthening its leadership team – most recently with the appointment of Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer. “We have been impressed with the team’s progress towards becoming a clinical stage organization for I&I disorders where standard of care is lacking,” said Josh Richardson M.D., Managing Director within Goldman Sachs Alternatives. “We look forward to supporting both programs through clinical proof-of-concept and beyond.” Triveni plans to submit an Investigational New Drug (IND) application for its lead candidate, TRIV-509, in the first quarter of 2025. TRIV-509 is a monoclonal antibody inhibitor targeting kallikreins 5 and 7 (KLK 5/7) that has demonstrated superior efficacy compared to IL-4R inhibition in multiple preclinical atopic dermatitis models. TRIV-573 combines KLK 5/7 inhibition with a well-established IL-13 mechanism. Triveni continues to explore additional innovative combinations to further enhance treatment outcomes. The company is also advancing an antibody inhibitor of trypsin 1 and 2 for the treatment of hereditary pancreatitis, a genetic disorder predominantly caused by PRSS1 mutations. Hereditary pancreatitis, which currently has no approved treatments, impacts around 10,000 individuals in the United States. About Triveni Bio Triveni Bio is a biotechnology company at the forefront of novel antibody-based therapies for immunological and inflammatory disorders. Using a genetics-informed, precision medicine approach, the company seeks to establish proof-of-concept early in the drug development process by leveraging deep insights into genetic and mechanistic biology. To learn more, visit www.triveni.bio . SOURCE: Triveni Bio

On Wednesday, Triveni Bio became the latest immunology and inflammation startup this year to announce a $100 million-plus financing round. Money has come thick and fast to I&I companies this year, and Triveni’s Series B comes less than a year after it announced a $92 million Series A. The new round was led by Goldman Sachs and included Fidelity, Deep Track Capital and other previous investors in the company, like Atlas Venture and OrbiMed. With the raise, Triveni will fund its lead experimental eczema antibody drug, TRIV-509, and plans to ask the FDA to let it start clinical trials of its lead program in the first quarter of 2025. That study will be in healthy volunteers, medical chief Bhaskar Srivastava told Endpoints News , and the company is seeking to develop the asset for atopic dermatitis, or eczema. Srivastava joined the company in June, leaving his post as SVP of clinical development at Nimbus Therapeutics. TRIV-509 targets kallikreins 5 and 7, and is involved in what’s called barrier dysfunction — when the skin can’t act as a proper protector from allergens and other irritants in people with atopic dermatitis. Triveni CEO Vishal Patel described barrier dysfunction as a hallmark feature of atopic dermatitis, as well as inflammation. “The barrier part, in particular, is novel because that is a unique part of that atopic dermatitis vicious cycle that really hasn’t been prosecuted in the past,” Patel told Endpoints. The company is also working on a follow-on compound called TRIV-573 that combines kallikrein 5/7 inhibition with IL-13, a well-known target (one of Dupixent’s targets). Triveni’s third program is an antibody treatment for hereditary pancreatitis.

Dive Brief:Triveni Bio has raised $115 million in Series B funding, the company said Wednesday, adding to an upward trend in investment this year in startups developing drugs for immune conditions.The Watertown, Massachusetts-based biotech will use the funds to develop a pipeline of antibody drugs for inflammatory diseases. Its most advanced prospect,codenamed TRIV-509, is in development for atopic dermatitis. Triveni aims to ask the Food and Drug Administration early next year to begin its first trial.Goldman Sachs Alternatives led the new funding, which follows a $92 million Series A the company secured last year. Its at least the 11th venture financing of $100 million or more for an immune drug developer in 2024, more than doubling 2023s total, according to data compiled by BioPharma Dive.Dive Insight:Like many other immunologystartupsto come along recently,Triveni is taking a targeted approach to drug discovery. The company is using troves of genetic data and what it claims to be best-in-class antibody design to create medicines it believes will be differentiated from others in development.Triveni faces stiff competition. Its lead program is in atopic dermatitis, a common form of eczema and the target of a number of effective, approved therapies, among them Sanofi and Regeneron Pharmaceuticals fast-selling Dupixent.Several would-be competitors are much further alongin clinical testing than Triveni, too.There's obviously been progress made, from where they were even five or 10 years ago, said CEO Vishal Patel, in an interview. But there's a lot of room to do better, help patients with efficacy, choice and convenience.Triveni, which launched last year out of a merger between two biotech startups, thinks it can help fill that gap. Some people dont respond to available atopic dermatitis therapies. And a lot of those drugs are really targeting inflammation, said Jennifer Dovey, the companys chief scientific officer,but the diseases vicious cycle consists of [skin] barrier dysfunction, inflammation and itch.Triveni says TRIV-509 might be able to impact all three aspects. The drug targets two enzymes known as kallikreins 5 and 7, which are overexpressed in the majority of people with atopic dermatitis, according to Dovey. In a statement Wednesday, the company said preclinical research has suggested its approach might be a more potent way of targeting the disease than drugs aimed at the cytokine IL-4R, like Dupixent. Triveni is also working on a bispecific antibody that acts on kallikreins 5 and 7 as well as a cytokine, IL-13, thats involved in inflammation. It hasnt said which diseases that drug will treat. A third candidate is in development for a type of hereditary pancreatitis that affects about 10,000 people in the U.S. and for which no approved treatments are available.The funding will keep Triveni operating through 2027. Fidelity Management & Research, Deep Track Capital, Cormorant Asset Management and Atlas Venture participated alongside Goldman and several other firms.In June, Triveni hired Bhaskar Srivastava, who previously served in senior clinical development roles at Nimbus Therapeutics and Johnson & Johnson, as its chief medical officer. '