Financing led by BVF Partners LP, with participation from new investors RA Capital Management, Cormorant Asset Management, Soleus Capital and existing investors aMoon Fund and Blackstone Multi-Asset Investing, among other new and existing investors Funds will be used to support ongoing and planned Phase 2a and 2b clinical trials of immune checkpoint enhancer, ALTB-268, in ulcerative colitis SAN FRANCISCO, May 21, 2024 (GLOBE NEWSWIRE) -- AltruBio Inc. ("AltruBio" or "the Company"), a clinical stage biotechnology company dedicated to the development of novel therapeutics for the treatment of immunological diseases with high unmet medical needs, today announced an oversubscribed Series B financing of up to $225 million. AltruBio plans to use the proceeds of the financing to advance the clinical development of the Company's first-in-class, novel immune checkpoint enhancer (ICE) PSGL-1 agonist antibody, ALTB-268. The funds will be used to support ongoing and planned Phase 2 clinical trials in ulcerative colitis (UC), one of many immunological disorders where the mechanism has been clinically validated. The financing was led by BVF Partners LP with participation from new investors RA Capital Management, Cormorant Asset Management, and Soleus Capital, as well as existing investors aMoon Fund and Blackstone Multi-Asset Investing, with other new and existing investors joining the syndicate. The Company's first-in-class, novel ICE agonist antibody, ALTB-268, is currently being studied in a Phase 2a exploratory biomarker study in patients with biologic refractory UC with an anticipated readout for its primary endpoint of clinical remission per modified Mayo score in 1H 2025. The company plans to initiate a global Phase 2b randomized, placebo-controlled clinical trial with a primary endpoint of clinical remission in both advanced therapy experienced and treatment naive patients with moderately to severely active UC. This study is anticipated to read out in 2H of 2026. "We are honored to welcome this esteemed new group of investors, whose participation complements the support of our existing world-class investor group. Their collective backing not only affirms the potential of our program and company but also our mission of developing durable biologic therapies for patients suffering from autoimmune diseases," said Dr. Judy Chou, President and Chief Executive Officer of AltruBio. "With this ...