AltruBio raises $225M to fuel Phase II for immune checkpoint enhancing antibody

21 May 2024
firstwordpharma.com
Phase 2Immunotherapy
AltruBio clinched an oversubscribed, $225-million series B to fund a mid-stage clinical programme of its lead immune checkpoint enhancer in ulcerative colitis. According to CEO Judy Chou, the fresh funds will also aid in the exploration of additional indications for ALTB-268, which the biotech says has pipeline-in-a-product potential.
The financing, which adds to a $63-million A round raised in 2021, was led by BVF Partners. Additional new investors RA Capital Management, Cormorant Asset Management and Soleus Capital also participated, as did existing investors aMoon Fund and Blackstone Multi-Asset Investing.
“Treatment options remain limited in many autoimmune conditions, including moderate to severe ulcerative colitis, and novel mechanisms are sorely needed,” said BVF Partners’ Gorjan Hrustanovic, adding that ALTB-268 is “a potential first-in-class medicine across multiple autoimmune indications.”
ALTB-268 is a PSGL-1 agonist antibodyPSGL-1 agonist antibody designed to downregulate chronically activated T-cells by inhibiting their effector function, thereby restoring immune system balance without systemic suppression.
In December, AltruBio enrolled the first patient in a Phase IIa exploratory biomarker study of ALTB-268 in patients with biologic refractory UC; Tuesday’s financing will now help the biotech launch a Phase IIb randomised, placebo-controlled trial of the antibody in patients with moderate-to-severe UC. The study’s first part is expected to read out in the first half of 2025, while data from the second are due in the second half of 2026.
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