— Series B led by Goldman Sachs Alternatives with participation from Fidelity Management & Research Company, Deep Track Capital, and existing investors —
— Funding will advance second-generation anti-kallikrein 5/7+IL-13 bispecific (TRIV-573) through clinical proof-of-concept —
— Lead antibody program TRIV-509 IND submission on track for 1Q 2025 —
WATERTOWN, Mass., Oct. 2, 2024 /PRNewswire/ — Triveni Bio Inc., a biotech company advancing novel antibody treatments for I&I disorders, today announced a $115 million Series B to support pipeline expansion. The round was led by Goldman Sachs Alternatives with significant participation from additional new investors Fidelity Management & Research Company and Deep Track Capital, and Series A investors Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus.
“We have built a differentiated pipeline of novel drug targets,” said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. “The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action.”
The Series B financing follows a $92 million Series A completed less than a year ago. In addition to pipeline advancement, Triveni is expanding its data science platform with a focus on precision dermatology and strengthening its leadership team – most recently with the appointment of Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer.
“We have been impressed with the team’s progress towards becoming a clinical stage organization for I&I disorders where standard of care is lacking,” said Josh Richardson M.D., Managing Director within Goldman Sachs Alternatives. “We look forward to supporting both programs through clinical proof-of-concept and beyond.”
Triveni plans to submit an Investigational New Drug (IND) application for its lead candidate, TRIV-509, in the first quarter of 2025. TRIV-509 is a monoclonal antibody inhibitor targeting kallikreins 5 and 7 (KLK 5/7) that has demonstrated superior efficacy compared to IL-4R inhibition in multiple preclinical atopic dermatitis models. TRIV-573 combines KLK 5/7 inhibition with a well-established IL-13 mechanism. Triveni continues to explore additional innovative combinations to further enhance treatment outcomes.
The company is also advancing an antibody inhibitor of trypsin 1 and 2 for the treatment of hereditary pancreatitis, a genetic disorder predominantly caused by PRSS1 mutations. Hereditary pancreatitis, which currently has no approved treatments, impacts around 10,000 individuals in the United States.
About Triveni BioTriveni Bio is a biotechnology company at the forefront of novel antibody-based therapies for immunological and inflammatory disorders. Using a genetics-informed, precision medicine approach, the company seeks to establish proof-of-concept early in the drug development process by leveraging deep insights into genetic and mechanistic biology. To learn more, visit www.triveni.bio.
SOURCE Triveni Bio
WANT YOUR COMPANY’S NEWS FEATURED ON PRNEWSWIRE.COM?
440k+Newsrooms &Influencers
9k+Digital MediaOutlets
270k+JournalistsOpted In