SAN FRANCISCO – February 06, 2024 – Attralus, Inc., a clinical-stage biopharmaceutical company developing transformative medicines to improve the lives of patients with systemic amyloidosis, today announced that it has closed a $56 million financing. The financing round was led by new investor Alpha Wave Ventures and also included Bristol Myers Squibb (BMY). Existing investors also participated including founding investor venBio Partners, Surveyor Capital (a Citadel company), Vivo Capital, Logos Capital and Sarissa Capital Management.
“This financing by a world-class syndicate of investors with deep expertise and experience in the life sciences space reflects the recognition of the strong potential of our pipeline of innovative pan-amyloid removal (PAR) therapeutic candidates to bring a new treatment approach to patients with systemic amyloidosis with potential to reverse the disease pathology,” said Mark Timney, CEO of Attralus. “With this support, we plan to accelerate our clinical development strategy to advance our portfolio programs.”
Attralus intends to use the proceeds from the financing to advance the Phase 1/2 development of Attralus’ lead PAR therapeutic product, AT-02, in ATTR and AL amyloidosis. The financing proceeds are also expected to support the clinical development of the pan-amyloid diagnostic imaging agent I-124-Evuzamitide (AT-01) and AT-05 as well as the preclinical development of PAR therapeutic candidates for the treatment of neurodegenerative diseases.
“We are thrilled to support Attralus in its vision to build a leading Systemic Amyloidosis company and the company’s approach of targeting removal of existing amyloid deposits, going beyond current treatments that slow progression but do not remove amyloid from organs” said Chris Dimitropoulos, Managing Director of Healthcare Investments at Alpha Wave Global. “We look forward to supporting Attralus as it progresses its programs and Attralus looks towards its next phase of growth.”
About Systemic Amyloidosis
Systemic amyloidosis encompasses a diverse group of rare diseases that occur due to accumulation of toxic amyloid deposits in tissues and organs, a consequence of aberrant protein misfolding events. These diseases are progressive, debilitating and often fatal. Systemic amyloidosis is significantly underdiagnosed due to low awareness, lack of specific symptoms, and no current disease-specific diagnostics. There are approximately 17 different types of systemic amyloidosis, which combined represent over 500,000 patients in the United States, the European Union and Japan. The two most common forms of systemic amyloidosis are transthyretin-associated amyloidosis (ATTR) and immunoglobulin light-chain-associated (AL) amyloidosis. While currently approved treatments slow disease progression by targeting precursor proteins, there is a significant unmet need for new therapies that can remove toxic amyloid deposits across all amyloid types and improve organ function and patient quality of life.