Alentis secures 67 million US dollars
The Basel-based biotechnology company Alentis Therapeutics has secured 67 million US dollars in a series B funding round. The funds will be deployed to develop its pipeline of drugs treating advanced liver and kidney fibrosis.
Thomas Baumert, Founder and Executive BoD
Alentis Therapeutics develops anti-fibrotic molecules to treat advanced liver and kidney fibrosis and also, by means of its proprietary platform, works on programs targeting other fibrotic diseases and hepatobiliary cancers.
Now, the Basel-based biotechnology company has secured 67 million US dollars in a series B funding round according to a press release. This will be used to bring Alentis’s lead product, monoclonal antibodies targeting claudin-1through a proof-of-concept study. Professor Thomas Baumert of the University of Strasbourg, who founded Alentis, is quoted in the press release, saying: “Fibrosis is an important risk factor for cancer, and Claudin-1 has a well-established role in cancer biology including tumor invasion and metastasis. Given the absent and unsatisfactory treatment options, it’s critical that we deliver new therapeutics for patients suffering from fibrosis and cancer.”
BaseLaunch, the biotech incubator and accelerator of Basel Area Business & Innovation, provided Alentis with decisive support during its founding phase and helped setting up the company in Basel. The funding round was led by Morningside Venture Investments and joined by Jeito Capital as well as the the Series A investors.
Jason Dinges from Morningside and Rafaèle Tordjman, Founder and CEO of Jeito Capital, have been welcomed to the Board of Directors. “Alentis has an outstanding and experienced team from pharma and biotech and is focused on a unique target, based on the founder’s work and his team of more than 10 years,” Tordjman is quoted as saying in the press release. Alentis Therapeutics plans to start the first clinical trials in Q4 2021.