Triveni Bio Raises $115 Million Series B Financing to Expand Pipeline of Therapeutics Addressing Immunological and Inflammatory (I&I) Disorders

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Oct 02, 2024, 07:00 ET

-- Series B led by Goldman Sachs Alternatives with participation from Fidelity Management & Research Company, Deep Track Capital, and existing investors --

-- Funding will advance second-generation anti-kallikrein 5/7+IL-13 bispecific (TRIV-573) through clinical proof-of-concept --

-- Lead antibody program TRIV-509 IND submission on track for 1Q 2025 --

WATERTOWN, Mass., Oct. 2, 2024 /PRNewswire/ -- Triveni Bio Inc., a biotech company advancing novel antibody treatments for I&I disorders, today announced a $115 million Series B to support pipeline expansion. The round was led by Goldman Sachs Alternatives with significant participation from additional new investors Fidelity Management & Research Company and Deep Track Capital, and Series A investors Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus.

"We have built a differentiated pipeline of novel drug targets," said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. "The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action."

The Series B financing follows a $92 million Series A completed less than a year ago. In addition to pipeline advancement, Triveni is expanding its data science platform with a focus on precision dermatology and strengthening its leadership team – most recently with the appointment of Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer.

"We have been impressed with the team's progress towards becoming a clinical stage organization for I&I disorders where standard of care is lacking," said Josh Richardson M.D., Managing Director within Goldman Sachs Alternatives. "We look forward to supporting both programs through clinical proof-of-concept and beyond."

Triveni plans to submit an Investigational New Drug (IND) application for its lead candidate, TRIV-509, in the first quarter of 2025. TRIV-509 is a monoclonal antibody inhibitor targeting kallikreins 5 and 7 (KLK 5/7) that has demonstrated superior efficacy compared to IL-4R inhibition in multiple preclinical atopic dermatitis models. TRIV-573 combines KLK 5/7 inhibition with a well-established IL-13 mechanism. Triveni continues to explore additional innovative combinations to further enhance treatment outcomes.

The company is also advancing an antibody inhibitor of trypsin 1 and 2 for the treatment of hereditary pancreatitis, a genetic disorder predominantly caused by PRSS1 mutations. Hereditary pancreatitis, which currently has no approved treatments, impacts around 10,000 individuals in the United States.

About Triveni Bio
Triveni Bio is a biotechnology company at the forefront of novel antibody-based therapies for immunological and inflammatory disorders. Using a genetics-informed, precision medicine approach, the company seeks to establish proof-of-concept early in the drug development process by leveraging deep insights into genetic and mechanistic biology. To learn more, visit www.triveni.bio.

SOURCE Triveni Bio