Alentis Therapeutics Secures $181.4 Million Led by Novo Holdings for ADC Development
Deal News | Nov 12, 2024 | PR Newswire Cision Novo Holdings
Novo Holdings has co-led a $181.4 million Series D financing round in Alentis Therapeutics, a Basel-based clinical-stage biotech company. The funding will facilitate the development of Claudin-1 (CLDN1) targeting medicines, particularly antibody-drug conjugates (ADCs) for treating solid tumours. This round, considered one of the largest ADC-focused fundraisings globally for 2024, also involved co-leaders OrbiMed and Jeito Capital, alongside new and existing investors like Frazier Life Sciences and RA Capital Management. The capital will support the Phase 1/2 trials of two ADCs: ALE.P02, targeting CLDN1+ squamous solid tumours with a tubulin inhibitor payload, and ALE.P03, aimed at CLDN1+ tumours with a topoisomerase I inhibitor. Trials for ALE.P02 are set to begin by Q1 2025 following FDA approval, with ALE.P03 trials commencing later in 2025. Novo Holdings, known for managing the assets of the Novo Nordisk Foundation, continues to pursue investments in life sciences to generate long-term returns. Alentis, recognized for its pioneering work in anti-CLDN1 ADCs, aims to transform the approach to treating cancer and fibrotic diseases.
Sectors
- Biotechnology
- Pharmaceuticals
- Private Equity
Geography
- Denmark – Novo Holdings, a leading investor in this financing round, is based in Denmark.
- Switzerland – Alentis Therapeutics, the recipient of the investment, is headquartered in Basel, Switzerland.
- France – Alentis Therapeutics has an R&D subsidiary located in Strasbourg, France.
- United States – Clinical operations for Alentis are also located in the US.
Industry
- Biotechnology – Alentis Therapeutics operates in the biotechnology sector, focusing on developing treatments targeting CLDN1+ tumors and fibrotic diseases.
- Pharmaceuticals – The development of antibody-drug conjugates (ADCs) for the treatment of solid tumours places this transaction within the pharmaceutical industry.
- Private Equity – Novo Holdings' involvement in the financing round highlights the role of private equity in advancing biotechnology and pharmaceutical ventures.
Financials
- $181.4 million – The amount raised in Series D financing for Alentis Therapeutics.
- EUR 149 billion – Total assets managed by Novo Holdings as of year-end 2023.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Alentis Therapeutics | Target | Company | A clinical-stage biotechnology company developing Claudin-1 targeted medicines to treat solid tumours and fibrotic diseases. |
| Novo Holdings | Co-Lead Investor | Company | A leading life sciences investor managing the assets of the Novo Nordisk Foundation. |
| OrbiMed | Lead Investor | Company | A healthcare investment firm that led the Series D financing round for Alentis Therapeutics. |
| Jeito Capital | Co-Lead Investor | Company | A European private equity firm focused on biotech and med-tech investments, co-leading the financing round. |
| Frazier Life Sciences | Investor | Company | One of the new participants in the Series D funding round for Alentis. |
| RA Capital Management | Existing Investor | Company | An existing backer providing continued support in the Series D round. |
| Roberto Iacone | CEO | Person | Chief Executive Officer of Alentis Therapeutics. |
| Naveed Siddiqi | Senior Partner and Board Member | Person | Senior Partner at Novo Holdings and Board Member of Alentis Therapeutics. |