Latigo Biotherapeutics, a clinical-stage biotechnology company developing non-opioid pain treatments that target pain at its source, announced it has closed $150 million in a Series B financing. The proceeds from the financing will support the advancement of the company’s highly selective Nav1.8 inhibitors currently in clinical development for the non-opioid treatment of pain and the development of Latigo’s broader pipeline.
This financing was led by funds managed by Blue Owl Capital, with participation from Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital. And existing investors Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments also participated in the financing round, reaffirming their commitment to Latigo’s mission to develop safer, more effective pain treatments.
In connection with the funding, Kevin Raidy, senior managing director at Blue Owl Capital, has joined Latigo’s board of directors.
KEY QUOTES:
“The need for non-opioid pain treatments has never been more urgent, and this financing allows us to accelerate the development of our robust portfolio of pain medicines that have the potential to transform the treatment landscape. We appreciate the support of our new and existing investors as we work to bring best-in-class, non-addictive pain treatments to patients.”
- Nima Farzan, chief executive officer of Latigo Biotherapeutics
“The field of pain management is long overdue for innovation beyond opioids, and we believe Latigo is well-positioned to advance novel, non-addictive treatments that could make a real difference for patients.”
- Kevin Raidy
“We are pleased to welcome Kevin to the board. His experience in life sciences investing and strategic growth will be invaluable as Latigo continues to scale. With this financing and the continued support of world-class investors, we will be able to rapidly advance our pipeline of non-opioid treatments for chronic and acute pain.”
- Timothy P. Walbert, chair of Latigo’s board
