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Pharma Tech Outlook | Wednesday, September 22, 2021
In addition to strengthening its cash position with the Series B financing, Attralus has strengthened its Board of Directors this quarter with the addition of two new directors.
FREMONT, CA: Attralus, a clinical-stage biopharmaceutical company developing transformative medicines to improve patients’ lives with systemic amyloidosis, recently completed a 116 million dollars Series B financing. Logos Capital led the funding round, which also included Janus Henderson Investors, Samsara BioCapital, Redmile Group, Sarissa Capital Management, Surveyor Capital (a Citadel company), and Vivo Capital. venBio Partners, the company’s founding investor, also took part in the financing.
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“This financing from a world-class syndicate of investors with deep expertise and experience in the life science space reflects the recognition of the strong potential of our pipeline of innovative Pan-Amyloid Removal (PAR) therapeutics to bring a new treatment approach to patients with systemic amyloidosis,” said Mark Timney, Chief Executive Officer, Attralus. “With this support, we will accelerate our strategy to advance our PAR therapeutic programs into clinical trials along with the world’s first amyloidosis-specific diagnostic imaging agent.”
The proceeds of the financing will be used to prepare Attralus PAR therapeutics for clinical trials. AT-03, the first PAR therapeutic, is expected to begin a Phase 1 biodistribution study in patients with systemic amyloidosis. In addition, the company intends to move forward with the AT-01 clinical program, which is an amyloid-specific imaging radiotracer for the diagnosis of systemic amyloidosis. The funds will also allow the company to expand its team and infrastructure to underpin future growth.
“Attralus offers unique value by developing amyloidosis therapies capable of broadly removing existing amyloid deposits, going beyond current treatments that slow progression but do not remove amyloid from organs,” said Graham Walmsley, M.D., Ph.D., and Arsani William, M.D., M.B.A. of Logos Capital. “At Logos, our mission is to invest in companies capable of significantly advancing the standard of care for patients. We are honored to support Attralus in pursuit of that goal.”
In addition to strengthening its cash position with the Series B financing, Attralus has strengthened its Board of Directors this quarter with the addition of two new directors. Attralus also appointment of Jake Bauer as an independent director in July 2021. Bauer is an experienced biopharmaceutical business executive who most recently served as Chief Business Officer of MyoKardia before the acquisition of MyoKardia, Inc. by Bristol Meyers Squibb.
Attralus also confirmed that Alexander Denner, Ph.D., has joined its Board of Directors. Denner is a Sarissa Capital Management LP founding partner and chief investment officer. He worked as a senior managing director at Icahn Capital L.P. from 2006 to 2011. He previously worked as a portfolio manager at Viking Global Investors and Morgan Stanley Investment Management. Denner is a director of Biogen and Ironwood Pharmaceuticals. He served as chair of the boards of directors of Ariad Pharmaceuticals and The Medicines Company in the last five years and a member of the board of directors of Bioverativ.
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