Triveni Bio has roped in $115 million in series B funds to advance preclinical antibody programs designed to treat immunological and inflammatory disorders.
Goldman Sachs Alternatives led the charge, with new investors Fidelity Management & Research and Deep Track Capital joining a pack of existing backers. The latest financing comes on the heels of a $92 million series A raised a little less than a year ago.
The Watertown, Massachusetts-based biotech’s lead candidate, dubbed TRIV-509, is a preclinical monoclonal antibody (mAb) designed to inhibit kallikreins 5 and 7 (KLK 5/7), proteases expressed in the skin. Triveni plans on submitting an investigational new drug application for TRIV-509 in the first quarter of next year, according to an Oct. 2 release.
The company said that in several preclinical atopic dermatitis models, the mAb showed superior efficacy compared to IL-4R inhibitors—of which Sanofi and Regeneron's blockbuster Dupixent is a notable example.
The biotech also has a second program, a bispecific antibody called TRIV-573 that is designed to inhibit both KLK 5/7 and IL-13.
“The series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action,” Triveni CEO Vishal Patel, Ph.D., said in the release. The money will fund TRIV-573 through clinical proof-of-concept, or phase 1 trials.
The early-stage company also houses an antibody inhibitor of trypsin 1 and 2 for the potential treatment of hereditary pancreatitis, a genetic disorder for which no approved therapy currently exists. Some funds will help the biotech grow its data science platform with a focus on precision dermatology.
Triveni—the product of a merger between Amagma Therapeutics and Modify Therapeutics—unveiled in the fall of 2023.