Triveni Bio – a biotech company pioneering a genetics-informed precision medicine approach to develop functional antibodies for the treatment of I&I disorders – recently announced a $92 million series A financing co-led by Atlas Venture and Cormorant Asset Management, with participation from OrbiMed, the private equity business of Viking Global Investors, Invus, Polaris Partners, Alexandria Venture Investments, and other investors.
Triveni Bio’s lead antibody program (TRIV-509) targets kallikreins 5 and 7 (KLK5/7), which promises targets for treating atopic dermatitis, asthma, and other I&I indications.
This financing will support the advancement of TRIV-509 from preclinical development to a Phase 2a clinical trial and fuel a pipeline of novel antibodies with two additional development candidate nominations expected in 2024.
Triveni Bio is the result of a merger between Amagma Therapeutics – which was founded by Tillman Gerngross, Ph.D. and Leonard Zon, M.D., with funding from Polaris; and Modify Therapeutics, which was founded and seeded by Atlas.
Triveni Bio’s data platform utilizes public and private datasets to identify novel genetically validated disease nodes, predict and stratify patient subpopulations, and provide novel insights into disease mechanisms – achieved in part through a collaboration with Nashville Biosciences.
KEY QUOTES:
“TRIV-509 works via a unique mechanism that directly impacts barrier dysfunction, inflammation, and itch. Novel therapeutic approaches for I&I diseases are much needed, especially for atopic dermatitis patients who generally have an inadequate response to Th2-targeted therapies.”
— Jennifer Dovey, Ph.D., Chief Scientific Officer of Triveni Bio
“We are grateful for the support of our investors who understand the upfront benefit of leveraging human genetics – especially learnings from rare Mendelian forms of disease – to expose novel drug targets relevant across multiple common diseases with shared traits. Triveni Bio is at a key inflection point as we transition into a clinical-stage company with a compelling therapeutic pipeline and talented team.”
— Industry veteran Vishal Patel, Ph.D., who joined Triveni Bio as Chief Executive Officer
“The teams saw an opportunity to bridge highly complementary talent, technologies, and approaches to create a data-driven precision medicine company.”
— Jean-François Formela, M.D., partner at Atlas Venture and Board Chair of Triveni Bio
“We are excited to co-lead this round alongside Atlas and other committed investors. We look forward to working with the Triveni team to bring novel and highly promising biological therapies to patients suffering from inflammatory disorders.”
— Raymond Kelleher, M.D., Ph.D., Managing Director at Cormorant
