Alentis Therapeutics closes $105m Series C funding for new treatment options

pharmafile | April 13, 2023 | News story | Sales and Marketing  

Alentis Therapeutics has announced $105m in Series C funding which was led by Jeito Capital together with Novo Holdings A/S and RA Capital Management, and included participation from existing investors. The financing is intended to support phase 1 and 2 programmes of Alentis’ lead investigational products ALE.C04 and ALE.F02 respectively, alongside the CLDN1 platform development.

This funding will finance the two clinical programmes ALE.F02 and ALE.C04 ‒ two first-in-class anti-Claudin-1 (CLDN1) antibodies for organ fibrosis and CLDN1 positive tumours ‒ and the platform to engineer CLDN1 antibody drug conjugates (ADC) and bispecific antibodies.

Dr Roberto Lacone, CEO at Alentis Therapeutics, commented: “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 programmes. 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.”

Rafaèle Tordjman, founder and CEO of Jeito Capital, added: “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 programmes and advancing the platform. We are committed to continuing our partnership with Alentis as they are the leading player in the CLDN1 space and are well positioned to generate meaningful clinical data within the next 12-18 months.”

Naveed Siddiqi, Novo Holdings’ senior partner who will join Alentis Therapeutics’ Board of Directors, stated: “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 preclinical 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.”


Betsy Goodfellow

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