Attovia Therapeutics, a privately held, clinical-stage biopharma company developing treatments for immune-mediated diseases with high unmet patient need, announced the closing of a $90 million Series C funding. Deep Track Capital led this funding round with participation from new investors including Vida Ventures, Sanofi Ventures, and Mirae Asset Capital Life Science, and ongoing support from existing investors including Frazier Life Sciences, venBio, Goldman Sachs Alternatives, Nextech Ventures, Cormorant Asset Management, EcoR1 Capital, Marshall Wace, and Illumina Ventures.
What the funding will be used for: The proceeds from the financing, along with the Company’s existing cash and investments, will be used to advance Attovia’s lead assets ATTO-1310 and ATTO-3712, through clinical proof-of-concept, to achieve best-in-disease efficacy for the treatment of chronic pruritus and atopic dermatitis. And the funds will also enable focused expansion of Attovia’s pipeline of multi-specific therapeutic candidates utilizing the company’s proprietary ATTOBODY technology to develop breakthrough treatment options for patients suffering from immune-mediated disorders, including inflammatory bowel disease (IBD) and others.
The funding enables Attovia to continue to advance its first ATTOBODY-based product candidate, ATTO-1310, a first-in-class, half-life extended anti-IL31 biologic, currently in Phase 1 studies, to provide a highly efficacious, fast acting, and convenient treatment option for chronic pruritus of unknown origin (CPUO), a disease affecting millions of patients in the U.S. and other developed countries with currently no approved treatments and additional pruritic conditions with urgent unmet need.
Attovia is also advancing ATTO-3712, a first-in-class anti-IL13 x IL31, half-life extended bispecific designed to provide breakthrough efficacy and convenient dosing in atopic dermatitis and potentially chronic spontaneous urticaria, prurigo nodularis, and other inflammatory skin conditions. The company plans to start Phase 1 clinical studies with ATTO-3712 in the second half of 2025.
Attovia’s earlier-stage pipeline includes ATTO-004, a multi-specific drug candidate targeting IBD, and two other multi-specific discovery-stage programs.
New board member: Rebecca Luse, Managing Director at Deep Track Capital, will join the company’s Board of Directors in connection with the financing.
KEY QUOTES:
“Completing what was an oversubscribed round of financing during this time speaks to the standout potential of our platform, programs, and excellent team. We deeply appreciate the support of our exceptional investor base and the shared commitment to transforming the lives of patients living with immune-mediated diseases. We now have a multi-year runway to advance our programs expeditiously, expand our pipeline judiciously, and pursue potential partnerships, all of which should give us greater optionality for the future.”
– Tao Fu, Attovia’s founder and CEO
“Attovia has created a transformative pipeline leveraging its revolutionary ATTOBODY platform. We are highly impressed with the team’s speed and quality of disciplined execution, and we are looking forward to supporting their growth and success as they work to realize the full potential of their platform and pipeline programs.”
– Rebecca Luse, Managing Director at Deep Track Capital
