Attenu, Inc. , a clinical-stage biopharmaceutical company focused on developing novel cough-treated medicines, today announced the completion of the $35 million Series A funding The financing was led by Omega Funds with the participation of a syndicate of leading international health investors, including Abingworth, OrbiMed and Redmile Group LLC.
Michael Kitt, MD, joined Attenua as Chief Financial Officer. Dr. Dr. Kitt was previously Chief Medical Officer of Afferent Pharmaceuticals, Inc. , where he has successfully conducted clinical trials in cough leading to the company’s $1. 25 billion acquisitions by Merck & Co , Inc, 2016
The new capital will be used to further develop Attenua’s lead drug candidate ATA-101, which aims at a new mechanism for chronic cough, in phase 2 clinical trials, as well as to advance the company’s pipeline.
In conjunction with funding, Michael Kitt, MD, CEO; Dina Chaya, Advisor to Omega Funds; Kurt von Emster, Managing Partner at Abingworth; and Rishi Gupta, Private Equity Partner at OrbiMed, will join the Attenua Board of Directors. They will be joined by existing members Hugh Rienhoff, Chairman, and Jing Liang, PhD, Founder and Former CEO of Attenua.
“I was inspired to join Attenua at this pivotal moment because of the compound profile and potential of ATA-101 to have a significant impact on cough treatment. We expect to launch a test-of-concept clinical trial for ATA-101 in chronic cough later this year,” said Dr. Kitt, Attenua CEO
Dina Chaya, Omega Funds Advisor, said: “We have seen a unique opportunity with Attenua to lead this funding and look forward to working with Michael and the Attenua team. Chronic cough remains a significant unmet need affecting more than 2 people. Five million people in the U Oh, S Lonely “That’s right.
Jing Liang, PhD, founder of Attenua and member of the Board of Directors, said, “We are pleased with the strong support and recognition that we have achieved in this Series A funding and look forward to evaluating Attenua’s lead clinical candidate. “That’s right.
On Chronic Cough
Cough is a symptom that patients often seek medical attention for. Cough can be classified as acute, up to three weeks in duration, subacute, three to eight weeks in duration or chronic, longer than eight weeks in duration. The prevalence of chronic cough is estimated to be more than 10% of adults in the United States. While underlying etiologies may contribute to cough in some of these patients (such as gastrointestinal reflux disease, asthma, or chronic obstructive pulmonary disease), many patients are not well-controlled for coughing, even with treatment for these underlying causes. No treatments for chronic cough are approved
Attenua is a clinical-stage biotechnology company developing novel medicines for millions of patients suffering from chronic respiratory disorders such as chronic cough. Cough is a medical issue for which no new drugs (NMEs/NCEs) have been approved in the U. Oh, S From 1958 onwards There are no approved medicines to treat chronic cough For more information, please visit www Attenu, Come on,
On the Omega Funds
Founded in 2004, Omega Funds is a specialized global life sciences investment firm based in Boston. Since its founding, the company has raised over $700 million. At its inception, a company specializing in direct secondary transactions providing total or partial liquidity to investors unable to provide follow-up capital to their initial investments. Today, Omega is deploying Omega Fund V, a $300M fund that invests directly in traditional financing rounds for public and private companies, across therapeutics and medical technology, while continuing to provide tailored solutions to investors seeking partial or complete liquidity for their shareholdings. For more information, please visit: www Omega-funds Net: Net
Abingworth is an international investment group dedicated to working with life science entrepreneurs to develop their ideas into products that have a dramatic impact on health. With over $1 billion under management, Abingworth is investing at all stages of development, from start-ups to publicly traded companies, and across all life science sectors. Supporting its 27-member portfolio companies with offices in London, Menlo Park (California) and Boston, Abingworth has invested in 146 life science companies, leading to 64 IPOs and 43 mergers and acquisitions. For more information, please visit: Abingworth, man Come on,
OrbiMed is a leading investment firm dedicated solely to the healthcare sector, with over $14 billion in assets under management. OrbiMed invests globally across the spectrum of healthcare companies, from venture capital start-ups to large multinational companies using a range of private equity funds, public equity funds, royalty/debt funds and other investment vehicles. OrbiMed is headquartered in New York City, with additional offices in San Francisco, Shanghai, Mumbai and Herzliya. OrbiMed seeks to be the capital provider of choice, with the flexibility to provide equity and debt capital solutions tailored to the unique needs of our portfolio companies. The global team of more than 80 professionals brings the resources and experience needed to be an exceptional long-term partner in building world-class healthcare companies. www www Oh, OrbiMed Come on,
About Group Redmile
Redmile Group, LLC is an investment firm with offices in San Francisco and New York, which manages around $3 billion in global public and private healthcare investment.
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