Areteia Therapeutics announced $75 million in additional Series A financing to support expansion of the current Phase III development program of dexpramipexole in eosinophilic asthma, bringing total Series A funding to $425 million. Viking Global Investors and Marshall Wace joined the original syndicate of investors led by Bain Capital Life Sciences with participation from Access Biotechnology, GV, ARCH Venture Partners, Saturn Partners, Sanofi, Maverick Capital, and Population Health Partners.
The additional funding will drive the significant expansion of the ongoing Phase III program, including adding clinical development in Japan along with several additional global markets, expansion of manufacturing activities, and additional life-cycle management, including developing a once-daily formulation.
KEY QUOTE:
“We are delighted that leading biotech investors like Viking Global Investors and Marshall Wace have joined the syndicate. Their investment in Areteia further deepens our already strong capitalization position. We are pleased with the strong demand in this investment expansion round as our phase III program in eosinophilic asthma continues to make excellent progress.”
- Jorge Bartolome, President and Chief Executive Officer of Areteia
