LTGO-305

Latigo Biotherapeutics thinks it can one-up Vertex Pharmaceuticals’ recently approved Journavx, which ignited the non-opioid landscape for treating pain. The Los Angeles-area biotech is testing a similar type of small molecule, called a Nav1.8 inhibitor, like Vertex’s landmark drug. To prove whether it has the best-in-class medicine, investors have backed Latigo with another $150 million. The company disclosed the Series B Monday morning. Endpoints News reported on the biotech’s plans for the financing round last month. Latigo broke cover last February with $135 million after a few years in stealth mode. It’s quickly accelerated in the time since, hiring a new CEO, chief medical officer and finance chief, as well as instituting new board members, including former Horizon CEO Tim Walbert as chair. The startup is in Phase 2 with LTG-001 for acute pain and Phase 1 with LTG-305 for chronic pain. Aside from Vertex and Latigo, other startups are in the Nav1.8 arena, like SiteOne Therapeutics . “Journavx’s approval was a very clear signal from FDA that they’re leaning in,” CEO Nima Farzan said in an interview. “They gave them, in a lot of ways, a good label for the data they had generated. Having, for example, full acute pain, not just post-surgical pain [and] not having a restriction on days of use.” “You clearly see the regulatory agency leaning in on that. That’s very positive,” Farzan continued. “Yet there are still very clear opportunities for innovation and a potential best-in-class.” The onset of efficacy and restrictions on drug-drug interactions, with hepatic and renal side effects, in Journavx’s label “leave room for innovation,” Farzan said. The new funding will allow Latigo to collect Phase 2 and early Phase 3 data in acute pain, Farzan said. The biotech will have to run multiple Phase 3 trials but won’t conduct them concurrently as a pharmaceutical giant with larger firepower might be able to do, he said. The Series B will also help Farzan and the team collect early efficacy results in chronic pain. Meanwhile, the 45-employee biotech continues its drug discovery hunt in acid-sensing ion channels, or ASICs. Latigo can get into Phase 3 on its own in acute pain but might eventually seek a partner to help it approach the more difficult chronic pain setting, he said. They’ve got a “robust” manufacturing process in place with external help, the CEO said. Blue Owl Capital led the Series B. Latigo’s investor base also includes Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, Kern Capital, Westlake BioPartners, Foresite Capital, 5AM Ventures and Alexandria Venture Investments. In the meantime, Farzan will be keeping a close eye on how Journavx’s approval and the broader non-opioid pain field pan out. “Are we going to start to see states coming up with policies trying to push even more patients away from an opioid?” he said. He pointed to measures that California has put in place that require prescribers to fill out a “complicated” form if they want their patients to get an opioid. “States are putting barriers in front of opioid prescriptions, and I’m wondering if those will even increase now that there are other options available,” Farzan continued. “Obviously that’s going to be a little bit longer term.” As for Vertex, company leadership has said they’ve been encouraged by conversations so far around the uptake of their medicine, approved Jan. 30. “There was some news in the press last week about ongoing conversations we have with Optum, not complete yet, but I think positive that these are occurring so rapidly,” Vertex CFO Charles Wagner said on March 10 at the Leerink Partners Global Healthcare Conference in Miami. New York and Arkansas have already provided coverage for Journavx, he said. “We have a lot to go, but the early signs are really encouraging,” Wagner said at the conference.

The company has recently shared Phase I outcomes for an orally administered candidate for non-opioid pain relief. Credit: meeboonstudio/Shutterstock. Latigo Biotherapeutics has secured $150m in a Series B financing round, which will be used to further the development of its Na v 1.8 inhibitors, which are being developed as non-opioid treatments for pain. This funding will also support the progression of the company’s wider pipeline of therapies. The financing round was spearheaded by Blue Owl Capital-managed fund. Other contributors included Sanofi Ventures, Deep Track Capital, Qatar Investment Authority and Cormorant Asset Management. Foresite Capital, 5AM Ventures, Alexandria Venture Investments and Westlake Village BioPartners also supported the company’s goal of developing safer pain management solutions. Latigo Biotherapeutics CEO Nima Farzan stated: “The need for non-opioid pain treatments has never been more urgent, and this financing allows us to accelerate the development of our robust portfolio of pain medicines that have the potential to transform the treatment landscape. “We appreciate the support of our new and existing investors as we work to bring best-in-class, non-addictive pain treatments to patients.” The company has recently shared encouraging Phase I outcomes for its orally administered lead candidate, LTG-001, for non-opioid pain relief. This selective Na v 1.8 inhibitor is aimed at addressing acute pain at its root cause. The initial human trial data indicated that this therapy was well-tolerated and quickly absorbed. Another company’s candidate, LTG-305, is also an oral, selective Na v 1.8 inhibitor and is currently undergoing a Phase I trial. It is a potential non-opioid therapy for chronic pain. Latigo develops non-opioid pain medications that directly target the source of pain. Its mission is to offer rapid-acting pain relief without addiction risks. In early March 2025, the company announced the receipt of fast track designation for LTG-001 from the US Food and Drug Administration for acute pain treatment. LTG-001 operates by inhibiting peripheral sensory neurons that are responsible for sending pain signals, thereby eliminating these signals from reaching the central nervous system.