The proceeds will be used for the companies’ growth, to help develop their platforms and advance their pipelines.
Alpine Immune Sciences secured $91 million in private placement financing that will be used to advance the development of its lead asset, ALPN-303 in lupus and other B cell-mediated inflammatory diseases, as well as the ongoing development of other clinical assets.
The Seattle-based company is focused on the development of multifunctional immunotherapies through a unique protein engineering platform. Its asset ALPN-303, a dual B-cell cytokine antagonist, targets autoimmune and inflammatory diseases, such as lupus.
ALPN-202, a conditional CD28 costimulator and dual checkpoint inhibitor, is being assessed in cancer as both a standalone treatment and in combination with Merck’s checkpoint inhibitor, Keytruda. ALPN-202 is in Phase I development, while ALPN-303 is in preclinical development.
The company’s lead asset is ALPN-101, a dual CD28/ICOS antagonist in Phase II for lupus. That study is being conducted in partnership with AbbVie, which has commercial rights to the drug.
The private placement was led by Frazier Life Sciences Public Fund. Other participants included Decheng Capital, BVF Partners, TCG X, Avidity Partners, OrbiMed, Omega Fund and Logos Capital.
James Topper, managing general partner of Frazier’s Life Sciences team, admitted that they have been impressed with the progress Alpine has made in immunology and immuno-oncology pipeline.
“This financing will help the company to pursue a focused and rapid development plan for ALPN-303, a potentially best-in-class inhibitor of the BAFF and APRIL pathways, and will also support the ongoing development of ALPN-202 as it enters monotherapy expansion cohorts next year and expands its development efforts in combination with Keytruda,” Topper said.
Alpine wasn’t the only company to announce a cash infusion. Switzerland-based Anjarium Biosciences AG closed a $61 million Series A backed by Abingworth, Gimv, Pfizer Ventures, Omega Funds and Surveyor Capital.
Anjarium’s platform combines proprietary DNA-based gene vectors, natural and synthetic nanoparticle delivery modalities to treat certain genetic diseases. Its new class of gene therapy offers the chance to address “key shortcomings of current viral gene therapy development” through the creation of medicines that have “reduced immunogenicity, increased drug payload capacity, enhanced targeted delivery, and individualized multiple dosing.”
The proceeds from the financing round will be used by Anjarium to expand its team, advance its ground-breaking platform and progress several therapeutic pipeline programs towards clinical development.
Joël de Beer, founder and chief scientific officer of Anjarium Biosciences, acknowledged that a fully non-viral approach to gene therapy is an exciting therapeutic opportunity, especially given the limitations of conventional viral-vector based gene therapies.
“Backed by this syndicate of leading investors, the Anjarium team is looking forward to continuing to create and deliver solutions for patients beyond what current gene therapy platforms can address, tackling more diseases, more precisely and in a more personalized way,” de Beer said in a statement.
Also scoring $80 million in financing is France’s Amolyt Pharma. The proceeds from the Series B will be used to continue the clinical development of AZP-3601 for hypoparathyroidism. Additionally, the funds will be used to progress AZP-3813 through IND-enabling activities in acromegaly and further expanding the company’s early-stage pipeline
The Amolyt Series B was co-led by Sectoral Asset Management and Andera Partners. Participants included LSP, Novo Holdings (Novo Ventures), Kurma Partners, Mass General Brigham Ventures, Innobio 2 managed by Bpifrance, Orbimed, Pontifax, Eurazeo, Sham Innovation Santé/Turenne Capital and Credit Agricole Creation.
Amolyt Founder and Chief Executive Officer Thierry Abribat touted the syndicate of supporters in the Series B. He said the financing provides the company with the opportunity to “further pursue our mission of building a leading rare endocrine and related disease company, and we will continue to work to introduce new and potentially life-changing therapeutics to patients globally.”
