$225m to advance novel immune checkpoint enhancer programme

Business financing

AltruBio has closed an oversubscribed Series B financing of up to $225 million, which will be used to advance the clinical development of the first-in-class, novel immune checkpoint enhancer (ICE) PSGL-1 agonist antibody, ALTB-268.

The funds will be used to support ongoing and planned Phase II clinical trials in ulcerative colitis (UC), one of many immunological disorders where the mechanism has been clinically validated.

The financing was led by BVF Partners LP with participation from new investors RA Capital Management, Cormorant Asset Management, and Soleus Capital, as well as existing investors aMoon Fund and Blackstone Multi-Asset Investing, with other new and existing investors joining the syndicate.

ALTB-268 is currently being studied in a Phase IIa exploratory biomarker study in patients with biologic refractory UC with an anticipated readout for its primary endpoint of clinical remission per modified Mayo score in 1H 2025.

The company plans to initiate a global Phase IIb randomised, placebo-controlled clinical trial with a primary endpoint of clinical remission in both advanced therapy experienced and treatment naive patients with moderately to severely active UC. This study is anticipated to read out in 2H of 2026.

“We are honoured to welcome this esteemed new group of investors,” said Dr Judy Chou, President and Chief Executive Officer of AltruBio. “With this substantial investment, we are one step closer to bringing our first-in-class, novel immune checkpoint enhancer, ALTB-268, through our ongoing Phase IIa exploratory biomarker study and initiate an additional Phase IIb study, while paving the way for potential indication expansion beyond ulcerative colitis. With our experienced team in place and this significant financing, we are poised to accelerate our efforts and deliver innovative treatments to patients in need.”

Diana Spencer, Senior Digital Content Editor, DDW

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