Latigo Biotherapeutics raises $135 mln for non-opioid painkillers – ET HealthWorld | Pharma

0
8


Bengaluru: Latigo Biotherapeutics emerged from stealth mode on Wednesday and mentioned it had raised $135 million in sequence A funding to advance medical trials of its non-opioid ache therapies, together with a drug that’s being examined in wholesome volunteers.

Westlake Village BioPartners, the enterprise capital (VC) agency that based Latigo, led the funding spherical. Two different healthcare and life-sciences centered VCs – 5AM Ventures and Foresite Capital – had been co-leads.

The Thousand Oaks, California-based firm didn’t disclose the valuation at which the funds had been raised.

The spherical fetches a uncommon massive test in an early stage fundraise, the place the deal measurement is often a lot smaller. Final yr, early stage funding rounds fetched lower than $20 million on common, information from PitchBook confirmed.

“This isn’t your typical sequence A today. The funding actually speaks to the dedication of the traders, and to this area,” mentioned Nancy Stagliano, chair of Latigo’s board.

Latigo’s lead drug, LTG-001, is being examined in an early stage trial. The drug, meant to deal with acute and power ache, belongs to the identical class of medicines as a remedy by Vertex Pharmaceuticals that diminished acute ache in a late-stage examine final week.

“There’s been little or no funding and little or no actual innovation on this area. For Vertex … to supply proof-of-concept now’s big for the sphere,” mentioned Sean Harper, founding managing director for WestLake.

However “many instances, the first-in-class molecule does not find yourself being the dominant best-in-class drug available on the market”, Harper mentioned, including that there was room for opponents within the still-nascent market.

Latigo’s lead drug and Vertex’s therapy goal a protein referred to as Nav1.8 in an try to dam ache at its supply. Opioids set off the mind’s reward middle as they journey by means of blood, resulting in the potential for dependancy and abuse.

  • Revealed On Feb 14, 2024 at 06:17 PM IST

Be part of the neighborhood of 2M+ trade professionals

Subscribe to our e-newsletter to get newest insights & evaluation.

Obtain ETHealthworld App

  • Get Realtime updates
  • Save your favorite articles


Scan to obtain App




Source link

Previous articleSivasri Skandaprasad interview: On Carnatic music, tryst with dance and her first movie music for AR Rahman
Next articleEli Lilly associate BioAge raises $170 mln for weight problems remedy – ET HealthWorld | Pharma

LEAVE A REPLY

Please enter your comment!
Please enter your name here