-- Proceeds support advancing Attovia’s lead programs through initial clinical readouts, expanding its pipeline, and ongoing development of the ATTOBODY™ platform
-- Financing led by Goldman Sachs Alternatives with participation by new and existing investors
FREMONT, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Attovia Therapeutics today announced the closing of a $105 million oversubscribed Series B financing, bringing the total capital raised by the Company since its launch in June 2023 to $165 million. Proceeds from the financing will be used to advance the Company’s lead programs ATTO-1310 and ATTO-002 through initial clinical data readouts, expand the Company’s immunology and inflammation pipeline, and to further develop the ATTOBODY™ platform.
The Series B financing was led by Goldman Sachs Alternatives, with participation from new investors Cormorant Asset Management, Nextech Ventures, Redmile Group, EcoR1 Capital, Marshall Wace, and Logos Capital. Attovia’s existing investors Frazier Life Sciences, venBio, and Illumina Ventures, also participated in the round. Concurrent with the financing, Colin Walsh, Ph.D., Managing Director within Life Sciences Investing at Goldman Sachs Alternatives, was appointed to the Company’s Board of Directors.
“The strong investor interest and timing of this financing underscore the rapid progress we made with Attovia’s differentiated pipeline since the company inception, and the unique potential of our proprietary platform to develop attractive, next-generation immunology product candidates,” said Tao Fu, chief executive officer of Attovia. “We are grateful for the support from such a strong group of investors, allowing us to advance our lead programs to the clinic in the near term, further expand our pipeline in novel bi-specifics, and catalyze potential business development opportunities.”
Attovia is advancing a pipeline of spatially optimized biparatopic biologics generated from its ATTOBODY™ platform. The Company’s lead programs, ATTO-1310, a potential first-in-class, long half-life anti-IL31 ATTOBODY, and ATTO-002, a bispecific anti-IL31 x IL13 ATTOBODY, represent potential best-in-class therapeutics for a range of immune-mediated diseases. ATTO-1310 is currently in IND enabling studies and is on track to enter the clinic around year-end 2024 for the treatment of atopic dermatitis and other pruritic diseases. Attovia expects to nominate a development candidate for ATTO-002 in the second half of 2024 and advance the candidate to IND in 2025. The Company is also developing discovery stage programs that expand the ATTOBODY platform footprint to novel, difficult-to-drug targets, and offer additional multi-specific combinations.
“We believe Attovia is well positioned to be a leader in the development of best-in-class novel biologics for patients suffering from a range of diseases in immunology and inflammation,” said Colin Walsh, Managing Director within Life Sciences Investing at Goldman Sachs Alternatives. “In a short amount of time, Attovia has leveraged its ATTOBODY platform to generate an impressive pipeline, and we are thrilled to support the further buildout of the company at this pivotal stage.”
About Attovia
Attovia is creating a pipeline of biotherapeutics with an initial focus on immune-mediated diseases. The company leverages ATTOBODY™, a biparatopic biologics platform, to generate binders that offer stronger efficacy and a broader universe of druggable epitopes compared to traditional approaches. Learn more at attovia.com.
About ATTOBODY™
ATTOBODIES are biparatopic biologics that utilize a proprietary spatial positioning technology. The biparatopic binding mode of ATTOBODIES translates to picomolar affinity with glue-like off-rates, which drives strong potency in biologic activity, and functionalizes biologically inactive epitopes. ATTOBODIES are modular, can be engineered into multispecifics, and offer tunable half-life from hours to weeks. The high-throughput, evolution-based ATTOBODY discovery platform significantly accelerates development and offers a high degree of diversity in lead candidates, expanding target biology coverage and derisking development.
About Goldman Sachs Alternatives
Goldman Sachs (NYSE: GS) is one of the leading investors in alternatives globally, with over $450 billion in assets and more than 30 years of experience. The business invests in the full spectrum of alternatives including private equity, growth equity, life sciences, private credit, real estate, infrastructure, hedge funds and sustainability. Clients access these solutions through direct strategies, customized partnerships, and open-architecture programs. The business is driven by a focus on partnership and shared success with its clients, seeking to deliver long-term investment performance drawing on its global network and deep expertise across industries and markets. The alternative investments platform is part of Goldman Sachs Asset Management, which delivers investment and advisory services across public and private markets for the world’s leading institutions, financial advisors and individuals. Goldman Sachs has over $2.8 trillion in assets under supervision globally as of December 31, 2023. Follow us on LinkedIn.
Press Contacts
Attovia Therapeutics:
info@attovia.com
Sheryl Seapy
Real Chemistry
+1-949-903-4750
sseapy@realchemistry.com
