Key Highlights
- $75 million in additional Series A financing brings total to $425 million for dexpramipexole’s global Phase III trials.
- Expansion includes clinical development in Japan, additional global markets, and a once-daily formulation.
- Dexpramipexole, a potential first-in-class oral eosinophil maturation inhibitor, targets severe eosinophilic asthma.
Source: Business Wire
Notable Quote
- “We are delighted that leading biotech investors like Viking Global Investors and Marshall Wace have joined the syndicate. Their investment in Areteia further deepens our already strong capitalization position.” – Jorge Bartolome, President and CEO at Areteia Therapeutics
SoHC's Take
Areteia Therapeutics’ substantial Series A funding achievement marks a pivotal moment in the advancement of eosinophilic asthma treatment. With a significant injection of $75 million, bringing the total to $425 million, Areteia is poised to accelerate the Phase III development of dexpramipexole, potentially revolutionizing the management of severe eosinophilic asthma. This expansion not only underscores the confidence in dexpramipexole as a groundbreaking therapy but also highlights the robust financial backing and strategic support from a consortium of leading biotech investors. The move to expand into new markets and develop a once-daily formulation demonstrates Areteia’s commitment to enhancing patient accessibility and convenience, potentially setting a new standard in asthma care. As the program progresses, the asthma community eagerly anticipates further developments, hopeful for a new era of oral treatment options.
