AltPep Closes $53M Series B Financing
Summary
In conjunction with the financing, Rohit Vanjani of Senator Investment Group will be appointed to AltPep’s Board of Directors and Ronald DeMattos, Ph.D., Senior Vice President and Chief Scientific Officer for Neurobiologicals at Lilly, will join AltPep’s Scientific Advisory Board. The company intends to use the funds to accelerate its SOBIN therapeutics into Phase 1 clinical trials for both Alzheimer’s and Parkinson’s diseases. Led by Valerie Daggett, Ph.D., Founder and CEO, AltPep is developing a disease-modifying treatments and detection tools for amyloid diseases by targeting early molecular triggers: toxic soluble oligomers. Its customized, synthetic peptides are designed to bind selectively to toxic oligomers in order to both detect and neutralize them throughout disease progression. AltPep’s lead programs aim to identify Alzheimer’s and Parkinson’s disease before symptoms occur with SOBA diagnostics and then neutralize the toxic oligomers associated with these diseases with SOBIN therapeutics.