Basel, Switzerland-based clinical-stage biotech developing breakthrough treatments for organ fibrosis and Claudin-1 (CLDN1) positive tumours, Alentis Therapeutics, raised USD 105 million in Series C. The round took place on April 13, 2023. Jeito Capital, together with Novo Holdings A/S and RA Capital Management, led the financing for the firm. Meanwhile, BB Pureos Bioventures, Bpifrance via its InnoBio 2 fund and Schroders Capital joined in Series C.
As a part of the deal, Naveed Siddiqi intends to join Alentis Therapeutics’ Board of Directors.
Purpose of financing for Alentis Therapeutics
With the latest proceeds from Series C, the company has plans to support Phase II and Phase I programs of Alentis’ lead investigational products, ALE.F02 and ALE.C04, respectively.
It also has plans to support CLDN1 platform development. Meanwhile, the company intends to ramp up its hiring operations.
What the company’s official has to say
Dr. Roberto Iacone, CEO at Alentis Therapeutics, said, “We are absolutely delighted with this support from our investors. There are huge unmet needs in organ fibrosis and cancer, and this funding enables us to continue with the important work we’re doing in the CLDN1 space and generate clinical data from both our programs. We can now aggressively develop CLDN1 biology in oncology and continue with the recruitment of our organ fibrosis trials while advancing our ADC and bi-specific antibodies.”
What the investor has to add
Founder and CEO of Jeito Capital, Rafaèle Tordjman, further said, “We are totally convinced about the CLDN1 biology potential in multiple areas of fibrosis and oncology. Alentis has made significant progress in identifying target populations while developing programs and advancing the platform. We seek to continue our partnership with Alentis as they are the leading player in the CLDN1 space. The company is in a good position to generate meaningful clinical data within the next 12-18 months.”
In addition, Novo Holdings’ Senior Partner, Naveed Siddiqi, said, “The Venture Investments team of Novo Holdings has an extensive track record of backing high-quality biotechs across Europe and the US developing novel treatments for unmet medical needs. Alentis has pioneered a world-leading position in the Claudin-1 space and is led by highly capable drug developers. We were encouraged by exciting emerging pre-clinical data in oncology, and the potential of Claudin-1 targeted therapeutics to treat a wide range of cancers where Claudin-1 is highly expressed. We are looking forward to supporting Alentis as it further advances its pipeline in the clinic with the proceeds of this round.”
About the company
In 2019, Founders Neil Goldsmith and Thomas Baumert launched the company. Alentis Therapeutics discovers and develops novel medications to treat advanced liver diseases.
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