Alentis Therapeutics, the Basel based biotech developing breakthrough treatments for fibrotic diseases announced the closing of USD67 (CHF60) million in a Series B financing round led by Morningside Venture Investments. The funding will primarily flow into proof-of-concept clinical trials of its lead candidate in advanced liver and kidney fibrosis.
Alongside Morningside Venture Investments, Jeito Capital and Series A investors BioMed Partners, BB Pureos Bioventures, Bpifrance through its InnoBio 2 fund, High-Tech Gründerfonds and Schroders Capital joined Alentis’ financing round.
"Our investors recognize the high unmet medical need,” said Dr. Roberto Iacone, CEO of Alentis, “They feel a great sense of urgency to develop innovative treatments for patients with life-threatening fibrotic diseases as well as related deadly cancers such as hepatocellular carcinoma and cholangiocarcinoma.”
Prof. Thomas Baumert, founder of Alentis, said that in the US and Europe alone, about 45% of deaths can be attributed to fibrotic disorders. He said that fibrosis affects nearly all tissues and organ systems such as the liver, kidneys and lungs.
Founded in 2019, Alentis developed a unique therapeutic approach focusing on inhibiting Claudin-1 outside the tight junction and its downstream signalling acting on cell fate and plasticity. Alentis’ lead molecules ALE.F02 and ALE.C04 are highly selective anti-Claudin-1 monoclonal antibodies that recognises pathological overexpressed and conformation-dependent Claudin-1 epitopes in fibrotic disease and cancer.
In preclinical studies, the lead molecule ALE.F02 modulates the function of non-junctional Claudin-1, preventing and possibly reversing fibrotic tissue growth within the liver and kidney by changing the plasticity of key cell types mediating fibrosis. Safety studies in non-human primates have supported the translatability of the approach to patients.
Alentis expects to initiate its first clinical trial in Q4 2021, thanks to the fresh capital. The funds will also support ongoing drug discovery programs targeting other fibrotic diseases and hepatobiliary cancers.
New board members
In line with the capital increase, Alentis welcomed Jason Dinges of Morningside and Rafaèle Tordjman, founder and CEO of Jeito Capital, to its Board of Directors, effective immediately. “We are excited about Alentis’ first-in-class approach to potentially enable effective treatments for fibrotic diseases with a significant unmet medical need,” said Dinges. “We look forward to supporting this exceptional team as they pioneer modulation of Claudin-1, an important and highly promising target in fibrosis and oncology.”
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