Attralus Closes $56 Million Financing

  • Proceeds intended to advance clinical pipeline of transformational pan-amyloid removal (PAR) therapeutic candidates
  • Financing led by Alpha Wave Global and also included Bristol Myers Squibb (BMY)

SAN FRANCISCO, Feb. 06, 2024 (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 $56 million financing. The financing round was led by new investor Alpha Wave Ventures and also included Bristol Myers Squibb (BMY). Existing investors also participated including founding investor venBio Partners, Surveyor Capital (a Citadel company), Vivo Capital, Logos Capital and Sarissa Capital Management.

“This financing by a world-class syndicate of investors with deep expertise and experience in the life sciences space reflects the recognition of the strong potential of our pipeline of innovative pan-amyloid removal (PAR) therapeutic candidates to bring a new treatment approach to patients with systemic amyloidosis with potential to reverse the disease pathology,” said Mark Timney, CEO of Attralus. “With this support, we plan to accelerate our clinical development strategy to advance our portfolio programs.”

Attralus intends to use the proceeds from the financing to advance the Phase 1/2 development of Attralus’ lead PAR therapeutic product, AT-02, in ATTR and AL amyloidosis. The financing proceeds are also expected to support the clinical development of the pan-amyloid diagnostic imaging agent I-124-Evuzamitide (AT-01) and AT-05 as well as the preclinical development of PAR therapeutic candidates for the treatment of neurodegenerative diseases.

“We are thrilled to support Attralus in its vision to build a leading Systemic Amyloidosis company and the company’s approach of targeting removal of existing amyloid deposits, going beyond current treatments that slow progression but do not remove amyloid from organs” said Chris Dimitropoulos, Managing Director of Healthcare Investments at Alpha Wave Global. “We look forward to supporting Attralus as it progresses its programs and Attralus looks towards its next phase of growth.”

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. There are approximately 17 different types of systemic amyloidosis, which combined represent over 500,000 patients in the United States, the European Union and Japan. The two most common forms of systemic amyloidosis are transthyretin-associated amyloidosis (ATTR) and immunoglobulin light-chain-associated (AL) amyloidosis. While currently approved treatments slow disease progression by targeting precursor proteins, there is a significant unmet need for new therapies that can remove toxic amyloid deposits across all amyloid types and improve organ function and patient quality of life.

About AT-02, Pan-Amyloid Removal Therapeutic
AT-02 is the company’s lead pan-amyloid removal (PAR) therapeutic candidate for systemic amyloidosis. AT-02 is a humanized IgG1 monoclonal antibody genetically fused with the company’s proprietary pan-amyloid binding peptide, enabling binding to multiple types of amyloid deposits. The Fc region of the antibody stimulates the immune system to remove amyloid deposits that are bound by AT-02. AT-02 uses a similar pan-amyloid peptide to I-124-Evuzamitide, the company’s diagnostic agent, which has been shown in multiple clinical trials to selectively bind to amyloid deposits in the heart, liver, kidney, and other organs in multiple types of amyloidosis. As a result, the company expects AT-02 to bind specifically to amyloid in systemic amyloidosis patients. Preclinical data have shown the ability of AT-02 to bind to multiple amyloid types in major organs, induce macrophage mediated phagocytosis, and remove amyloid. AT-02 is currently being evaluated in an open label phase 1 / 2 clinical trial in ATTR and AL amyloidosis patients.

About I-124-Evuzamitide, Pan-Amyloid Diagnostic (Also known as AT-01)
I-124-Evuzamitide (iodine-124 Evuzamitide) utilizes the company’s pan-amyloid binding peptide as an amyloid-specific imaging agent to image all types of systemic amyloidosis by PET/CT imaging. In clinical trials, I-124-Evuzamitide has been shown to detect multiple types of amyloid deposits, including AL and ATTR, in major organs such as the heart, kidney, liver, and spleen. Attralus has a special protocol assessment (SPA) in place with the FDA to conduct a single pivotal Phase 3 trial for I-124-Evuzamitide.

About AT-05, Pan-Amyloid Diagnostic
AT-05, uses the same pan amyloid binding peptide as I-124 -Evuzamitide but is labelled with technetium-99m (Tc-99m, 99mTc). AT-05 is designed to be used with single-photon emission computerized tomography (SPECT) to be more accessible to community cardiologists, and thereby support broader screening in addition to diagnosis. AT-05 is currently in a Phase 1 clinical trial.

About Neurodegeneration Program
Attralus is developing the next generation of therapies for neurodegenerative diseases by simultaneously targeting multiple proteinopathies. Patients suffering from neurodegenerative diseases such as Alzheimer’s, Parkinson’s, and Lewy Body diseases, often have multiple proteinopathies. The company’s research is aiming to capitalize on this by binding to multiple misfolded protein aggregates including Aβ, Tau, and α-Synuclein. Attralus’ pan-amyloid product candidates provide an opportunity for therapeutics that can simultaneously target multiple proteinopathies in individual patients unlike approved therapies that target a single proteinopathy. The company is also exploring a blood brain barrier shuttle to potentially improve brain penetration.

About Attralus
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 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 San Francisco.

About Alpha Wave
Alpha Wave is a global investment company with three main verticals: private equity, private credit, and public markets. It is led by Rick Gerson, Navroz Udwadia, and Ryan Khoury. Its flagship global private equity fund, Alpha Wave Ventures, aims to invest in best-in-class growth-stage companies and endeavors to be helpful long-term partners to the founders and management teams. Alpha Wave has offices in New York, Miami, London, Monaco, Madrid, Abu Dhabi, Tel Aviv, Bangalore, Jakarta, and Sydney. For more information, please visit www.alphawaveglobal.com.

Forward-Looking Statements
This press release contains forward-looking statements, including statements related to the efficacy, continued development, and potential of the Company’s product candidates. Words such as “developing,” “aiming,” “advance,” “will,” “potential,” “intends,” “expected,” “plan,” “shown” 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.

Contact:

Krishna Gorti, MD FRCS
Corporate Development
(212) 489-4351
kgorti@attralus.com


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