Key Highlights
- Oversubscribed $45 million Series C financing led by InVivium Capital, including new investors like Franklin Templeton and Eli Lilly and Company.
- The funding will support four placebo-controlled Phase 2 clinical trial readouts for CNS product candidates by early 2025.
- Michael Liang, Ph.D., joins Alto’s board of directors, enhancing leadership
Source: Business Wire
Notable Quotes
- “This financing allows us to bring our clinical programs through key value-generating milestones and significantly extends our operational runway.” – Amit Etkin, M.D., Ph.D., Founder and CEO at Alto Neuroscience
- “We look forward to supporting Alto in accelerating its mission of developing more personalized, effective treatments via their industry-leading precision psychiatry platform.” – Michael Liang, Managing Director at InVivium Capital
SoH's Take
Alto Neuroscience’s recent Series C financing milestone marks a significant advancement in the field of precision psychiatry. With a strong consortium of new and existing investors, Alto is well-positioned to accelerate its unique approach towards mental health treatment. The company’s focus on developing personalized treatments based on brain-based biomarkers represents a paradigm shift in addressing mental health conditions. Alto’s commitment to advancing their product candidates, ALTO-100 and ALTO-300, through Phase 2 clinical trials, underlines their dedication to providing more targeted and effective therapies. This development is not only a win for Alto Neuroscience but also a promising step forward for patients suffering from mental health conditions, potentially leading to more effective, personalized treatment options in the near future.
