Amagma Therapeutics and Modify Therapeutics have launched Triveni Bio, a biotech company dealing with the treatment of inflammation and immunity (I&I) disorders.
Led by Atlas Venture, and Cormorant Asset Management, the $92 million series A financing also saw investment from OrbiMed, Viking Global Investors, Invus, Polaris Partners, Alexandria Venture Investments, among others.
The funds will be used to support TRIV-509, the biotech company’s flagship program – an antibody that targets kallikreins 5 and 7 to treat diseases related to inflammation and immunity, including asthma and eczema specifically, to assist patients who do not respond well to Th2-targeted treatments.
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“We are grateful for the support of our investors who understand the upfront benefit of leveraging human genetics – especially learnings from rare Mendelian forms of disease – to expose novel drug targets relevant across multiple common diseases with shared traits,” said Vishal Patel, CEO for Triveni Bio. “Triveni Bio is at a key inflection point as we transition into a clinical stage company with a compelling therapeutic pipeline and talented team.”
According to the firm, with two more development candidate nominations anticipated in 2024, the funding will assist the progression of TRIV-509 from preclinical research to a Phase IIa clinical trial and feed a pipeline of new antibodies.
Based in Cambridge, Massachusetts, US, Amagma Therapeutics was founded by Tillman Gerngross, Adimab’s former CEO and Harvard researcher, Leonard Zon, with funding from Polaris, and Modify Therapeutics was founded and funded by Atlas.
Triveni Bio did not respond when contacted by this publication.
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