Triveni Bio, a biotech company advancing novel antibody treatments for I&I disorders, announced a $115 million Series B to support pipeline expansion. The funding 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.
The Series B funding round 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 – more recently with the appointment of Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer.
Triveni plans on submitting 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.
Plus, 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.
KEY QUOTES:
“We have built a differentiated pipeline of novel drug targets. The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action.”
-Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio
“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. We look forward to supporting both programs through clinical proof-of-concept and beyond.”
-Josh Richardson M.D., Managing Director within Goldman Sachs Alternatives
