Triveni Bio announced it raised $65 million in Series C funding to support pipeline expansion and continued corporate growth. The company is a clinical-stage biotechnology company developing novel antibody treatments for immunological and inflammatory disorders.
The round was co-led by new investors Ascenta Capital and Janus Henderson Investors, with significant participation from Deep Track Capital, along with additional existing investors.
The proceeds will support the expanded clinical development of TRIV-573, including a Phase 2 proof-of-concept study in atopic dermatitis expected to begin later this year. TRIV-573 is a half-life extended, next-generation bispecific antibody designed to address atopic dermatitis by simultaneously inhibiting KLK5/7, which Triveni describes as central drivers of skin barrier dysfunction, and the Th2 cytokine IL-13.
The financing comes weeks after Triveni Bio initiated first-in-human clinical studies with TRIV-573. And in connection with the financing, Evan Rachlin, M.D., Co-Founder and Managing Partner at Ascenta Capital, joined Triveni Bio’s Board of Directors.
Triveni Bio’s lead program, TRIV-509, is a half-life extended monoclonal antibody targeting kallikreins 5 and 7 for the treatment of moderate-to-severe atopic dermatitis. The company said TRIV-509 has demonstrated the ability to impact key pillars of atopic dermatitis, including barrier dysfunction, inflammation, and itch, through its protease inhibition mechanism. TRIV-509 is currently being evaluated in an ongoing Phase 2 proof-of-concept trial, with data expected by the end of 2026.
TRIV-573 builds on this approach by combining KLK5/7 inhibition with a potent anti-IL-13 mechanism. Triveni Bio said the new funding will also enable the company to explore kallikrein 5/7 biology in other related barrier disorders.
The company also recently received recognition for its leadership, with Chief Executive Officer Vishal Patel, Ph.D., named a finalist for the Ernst & Young Entrepreneur Of The Year 2026 award.
KEY QUOTES:
“This financing enables us to disrupt the status quo in atopic dermatitis, addressing not just inflammation, but the underlying dysfunction of the skin barrier, positioning Triveni to bring a long-overdue option to a population of patients still in need of relief. We have built a highly differentiated pipeline that combines novel biology with established anti-inflammatory mechanisms. In addition to a thorough investigation of TRIV-573 in atopic dermatitis, this funding allows us to explore kallikrein 5/7 biology in other related barrier disorders.”
Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio
“Triveni Bio has rapidly and efficiently advanced novel programs to address significant gaps in the existing standard-of-care. The speed with which the team has progressed two assets into the clinic—less than one year apart—is a testament to their operational execution. I am thrilled to join the Board of Directors at this exciting inflection point for the company.”
Evan Rachlin, M.D., Co-Founder and Managing Partner at Ascenta Capital
