Attralus Closes $116 Million Series B Financing
- Proceeds to advance pipeline of transformational pan-amyloid removal (PAR) therapeutics into the clinic
- Financing led by Logos Capital and included other leading public healthcare funds
- Appoints Alexander Denner, Ph.D., and Jake Bauer, to the Board of Directors
SOUTH SAN FRANCISCO, Calif., Sept. 08, 2021 (GLOBE NEWSWIRE) -- Attralus, Inc., a clinical stage biopharmaceutical company developing transformative medicines to improve the lives of patients with systemic amyloidosis, today announced that it has closed a $116 million Series B financing. The financing round was led by Logos Capital and included participation from Janus Henderson Investors, Redmile Group, Samsara BioCapital, Sarissa Capital Management, Surveyor Capital (a Citadel company), and Vivo Capital. Founding investor, venBio Partners, also participated in the financing.
“This financing from a world-class syndicate of investors with deep expertise and experience in the life science space reflects the recognition of the strong potential of our pipeline of innovative pan-amyloid removal (PAR) therapeutics to bring a new treatment approach to patients with systemic amyloidosis,” said Mark Timney, Chief Executive Officer of Attralus. “With this support, we will accelerate our strategy to advance our PAR therapeutic programs into clinical trials along with the world’s first amyloidosis-specific diagnostic imaging agent.”
“Attralus offers unique value by developing amyloidosis therapies capable of broadly removing existing amyloid deposits, going beyond current treatments that slow progression but do not remove amyloid from organs,” said Graham Walmsley, M.D., Ph.D. and Arsani William, M.D., M.B.A. of Logos Capital. "At Logos, our mission is to invest in companies capable of significantly advancing the standard of care for patients. We are honored to support Attralus in pursuit of that goal."
Proceeds from the financing will be used to prepare the advancement of Attralus’ PAR therapeutics into clinical trials. The first PAR therapeutic, AT-03, is expected to begin a Phase 1 biodistribution study in systemic amyloidosis patients. Additionally, the company plans to advance the AT-01 clinical program, an amyloid-specific imaging radiotracer for the diagnosis of systemic amyloidosis. The funding will also enable the company to expand its team and infrastructure to support future growth.
In addition to strengthening its cash position with the Series B financing, Attralus has also strengthened its Board of Directors with the appointment of two new directors this quarter.
In July 2021, Attralus announced the appointment of Jake Bauer, as an independent director. Mr. Bauer is a seasoned biopharmaceutical industry executive who most recently served as Chief Business Officer of MyoKardia, Inc., prior to MyoKardia, Inc.’s acquisition by Bristol Meyers Squibb.
Today, Attralus also announced that Alexander Denner, Ph.D. has joined the company’s Board of Directors. Dr. Denner is a founding partner and chief investment officer of Sarissa Capital Management LP. From 2006 to 2011, Dr. Denner served as a senior managing director at Icahn Capital L.P. Prior to that, he served as a portfolio manager at Viking Global Investors and Morgan Stanley Investment Management. Dr. Denner serves on the board of directors of Biogen Inc. and Ironwood Pharmaceuticals, Inc. In the last five years, Dr. Denner has served as chair of the board of directors of Ariad Pharmaceuticals, Inc. and The Medicines Company, as well as a member of the board of directors of Bioverativ Inc.
"We are delighted to welcome Dr. Denner to our Board of Directors, as we accelerate development of our pipeline and continue to grow our business," said Corey Goodman, Ph.D., Chairman of the Attralus Board of Directors.
About AT-01 Pan-Amyloid Diagnostic
AT-01 utilizes the company’s pan-amyloid peptide, an amyloid specific radiotracer to image all types of systemic amyloidosis through PET/CT imaging. In initial clinical trials, AT-01 has been shown to detect all types of amyloid deposits, including AL and ATTR, in major organs such as the heart, kidney, liver and spleen.
About AT-02 PAR Therapeutic
AT-02 is a full length IgG1 monoclonal antibody with the company’s pan-amyloid peptide attached to the Ig light chain enabling binding to all types of amyloid deposits. The Fc region of the antibody stimulates the immune system to remove amyloid deposits that are bound by AT-02.
About AT-03 PAR Therapeutic
AT-03 is a fusion of the company’s PAR-SAP (Serum Amyloid Protein) technology with a single-chain Fc. The PAR-SAP component mediates binding to all types of amyloid deposits, and the single-chain Fc stimulates the immune system to remove amyloid deposits that are bound by AT-03.
About AT-04 PAR Therapeutic
AT-04 is a fusion of the company’s pan-amyloid peptide with the Fc component of an IgG1 antibody. The PAR-peptide mediates binding to all types of amyloid deposits, and the Fc stimulates the immune system to remove amyloid deposits that are bound by AT-04.
About Systemic Amyloidosis
Systemic amyloidosis encompasses a diverse group of rare diseases that occur due to accumulation of toxic amyloid deposits in tissues and organs, a consequence of aberrant protein misfolding events. These diseases are progressive, debilitating and often fatal. Systemic amyloidosis is significantly underdiagnosed due to low awareness, lack of specific symptoms, and no current disease-specific diagnostics. The two most common forms of systemic amyloidosis are immunoglobulin light-chain (AL) amyloidosis and transthyretin amyloidosis (ATTR).
Attralus is a clinical stage biopharmaceutical company focused on creating transformative medicines to improve the lives of patients with systemic amyloidosis. The company’s proprietary pan-amyloid removal (PAR) therapeutics are designed to directly bind to and remove toxic amyloid in organs and tissues. By targeting the universal disease-causing pathology in systemic amyloidosis diseases, PAR therapeutics have the potential to treat and reverse disease in patients with all types and stages of systemic amyloidosis. Attralus was founded by scientific experts in the field of amyloidosis and the company is headquartered in South San Francisco.
This press release contains forward-looking statements. Words such as ‘designed,’ ‘expected,’, ‘potential,’ "to advance," "will" and similar expressions are intended to identify forward-looking statements. These forward-looking statements are based upon Attralus' current expectations. Forward-looking statements involve risks and uncertainties. Attralus' actual results and the timing of events could differ materially from those anticipated in such forward-looking statements as a result of these risks and uncertainties. Attralus expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in Attralus' expectations with regard thereto or any change in events, conditions, or circumstances on which any such statements are based.