LTZ Therapeutics announced the completion of an oversubscribed $38 million financing round to accelerate development of its Universal Myeloid Cell Engager immunotherapy platform and pipeline. The financing round was led by GL Ventures with additional participation from a sovereign wealth fund and existing shareholders.
The company said the latest financing brings total funding raised since its 2022 founding to approximately $130 million. Proceeds will support ongoing clinical development programs, including the Phase 1 study of the lead asset, LTZ-301, and investigational new drug filing activities for LTZ-232.
LTZ Therapeutics develops immunotherapies that harness myeloid biology to treat oncology and autoimmune diseases. The company’s proprietary Universal Myeloid Cell Engager platform is designed to activate monocytes and macrophages to enhance anti-tumor immune responses.
The company said macrophages are among the most prevalent immune cell populations in tumor microenvironments across hematologic and solid tumors, creating opportunities for therapies that activate macrophage-driven destruction of cancer cells.
LTZ-301, the company’s lead asset, is a bispecific antibody designed to target CD79b-positive B-cells by redirecting monocytes and macrophages toward cancer cells to enhance phagocytosis. The Phase 1 clinical trial is currently enrolling patients with relapsed or refractory Non-Hodgkin Lymphoma across multiple clinical centers in the United States.
LTZ Therapeutics also announced the appointment of Erin Lavelle as an independent board director. The company noted Lavelle previously served as chief operating officer and chief financial officer of ProfoundBio, where she helped lead the company’s $1.8 billion acquisition by Genmab and a $112 million Series B financing round.
LTZ Therapeutics operates from Redwood City, California, and Shenzhen, China, focusing on the development of myeloid engager immunotherapies across broad disease indications.
KEY QUOTES:
“This financing empowers us to translate the potential of our Myeloid Engager Platform into tangible clinical impact for patients. We are building strong momentum across our pipeline and we’re grateful for the robust support from high-caliber investors, whose partnership enables us to accelerate the development of innovative immunotherapies designed to harness myeloid biology to address significant unmet medical needs.”
Robert Li, Ph.D., Founder And Chief Executive Officer, LTZ Therapeutics
“We’re excited to welcome Erin Lavelle to our board at this pivotal stage of growth. Erin brings over 25 years of industry executive experience spanning across large pharma and biotech, including both private and public companies. Most recently as the chief operating officer and chief financial officer of ProfoundBio, Ms. Lavelle led the company’s $1.8 billion acquisition by Genmab and the $112 million oversubscribed Series B financing preceding the acquisition, and spearheaded the company’s public company readiness efforts. Erin’s addition to LTZ Board will be invaluable as we continue advancing our clinical pipeline and scaling the company globally.”
Robert Li, Ph.D., Founder And Chief Executive Officer, LTZ Therapeutics
“GL Ventures is pleased to partner with LTZ as the company scales its novel, proprietary U-MCE platform to harness the therapeutic potential of myeloid biology through multiple early-stage programs. The transition of its lead asset LTZ-301 into Phase 1, alongside the upcoming IND filing for LTZ-232, reflects the team’s operational efficiency and proven ability to execute on this first-in-class modality. We will continue to support Robert and his team as they advance this innovative platform to bring breakthrough treatment options to patients.”
Statement From GL Ventures
