Triveni Bio Inc., a biotech company pioneering a genetics-informed precision medicine approach to develop functional antibodies for the treatment of I&I disorders, announced a $92 million series A financing co-led by Atlas Venture and Cormorant Asset Management, with participation from OrbiMed, the private equity business of Viking Global Investors, Invus, Polaris Partners, Alexandria Venture Investments, and other investors.
Triveni Bio’s lead antibody program (TRIV-509) targets kallikreins 5 and 7 (KLK5/7), promising targets for the treatment of atopic dermatitis, asthma, and other I&I indications. “TRIV-509 works via a unique mechanism that directly impacts barrier dysfunction, inflammation, and itch. Novel therapeutic approaches for I&I diseases are much needed, especially for atopic dermatitis patients who generally have an inadequate response to Th2-targeted therapies,” said Jennifer Dovey, Ph.D., Chief Scientific Officer of Triveni Bio.
The financing will support the advancement of TRIV-509 from preclinical development to a Phase 2a clinical trial and fuel a pipeline of novel antibodies with two additional development candidate nominations expected in 2024.
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“We are grateful for the support of our investors who understand the upfront benefit of leveraging human genetics – especially learnings from rare Mendelian forms of disease – to expose novel drug targets relevant across multiple common diseases with shared traits,” said industry veteran Vishal Patel, Ph.D., who joined Triveni Bio as Chief Executive Officer. “Triveni Bio is at a key inflection point as we transition into a clinical stage company with a compelling therapeutic pipeline and talented team.”
Triveni Bio is the result of a merger between Amagma Therapeutics, which was founded by Tillman Gerngross, Ph.D. and Leonard Zon, M.D. with funding from Polaris; and Modify Therapeutics, which was founded and seeded by Atlas.
“The teams saw an opportunity to bridge highly complementary talent, technologies, and approaches to create a data-driven precision medicine company,” said Jean-François Formela, M.D., partner at Atlas Venture and Board Chair of Triveni Bio.
“We are excited to co-lead this round alongside Atlas and other committed investors. We look forward to working with the Triveni team to bring novel and highly promising biological therapies to patients suffering from inflammatory disorders,” said Raymond Kelleher, M.D., Ph.D., Managing Director at Cormorant.
Triveni Bio’s data platform leverages both public and private datasets to identify novel genetically validated disease nodes, predict and stratify patient subpopulations, and provide novel insights into disease mechanisms – achieved in part through a collaboration with Nashville Biosciences.
SOURCE : PRNewswire