GS - Attovia Therapeutics Raises $105 Million Oversubscribed Series B Financing Led by Goldman Sachs Alternatives | Benzinga
-- Proceeds support advancing Attovia's lead programs through initial clinical readouts, expanding its pipeline, and ongoing development of the ATTOBODY™ platform
-- Financing led by Goldman Sachs Alternatives with participation by new and existing investors
FREMONT, Calif., May 09, 2024 (GLOBE NEWSWIRE) -- Attovia Therapeutics today announced the closing of a $105 million oversubscribed Series B financing, bringing the total capital raised by the Company since its launch in June 2023 to $165 million. Proceeds from the financing will be used to advance the Company's lead programs ATTO-1310 and ATTO-002 through initial clinical data readouts, expand the Company's immunology and inflammation pipeline, and to further develop the ATTOBODY™ platform.
The Series B financing was led by Goldman Sachs Alternatives, with participation from new investors Cormorant Asset Management, Nextech Ventures, Redmile Group, EcoR1 Capital, Marshall Wace, and Logos Capital. Attovia's existing investors Frazier Life Sciences, venBio, and Illumina Ventures, also participated in the round. Concurrent with the financing, Colin Walsh, Ph.D., Managing Director within Life Sciences Investing at Goldman Sachs Alternatives, was appointed to the Company's Board of Directors.
"The strong investor interest and timing of this financing underscore the rapid progress we made with Attovia's differentiated pipeline since the company inception, and the unique potential of our proprietary platform to develop attractive, next-generation immunology product candidates," said Tao Fu, chief executive officer of Attovia. "We are ...