Alpine Immunology With approximately US$91 million in new funding, it will transfer a potential immune disease treatment to human trials and support its ongoing cancer trials.
Publicly traded biotech companies are raising funds through private placement, Announced on Wednesday, To provide securities to a selected group of investors. The private placement led by Seattle-based Frazier Healthcare Partners will end on Friday.
The funding will advance Alpine’s plan to develop ALPN-303, which aims to treat lupus and other inflammatory diseases. The company expects to begin the first phase of research on the agent this winter.
The funding will also support the clinical research of ALPN-202, which aims to promote an immune response against tumor cells.The data provided by the company comes from its The first phase of ALPN-202 study This year, this shows that the drug is well tolerated and appears to have clinical benefits for a small number of cancer patients.
Alpine too Cooperation with Merck Test the combination of the pharmaceutical giant’s blockbuster cancer immunotherapy drug Keytruda and ALPN-202 in a separate phase one trial.
“As a long-term supporter of Alpine, we are very impressed with the company’s progress and their rise as leaders in the fields of immunology and immuno-oncology,” said James Topper, managing general partner of Frazier’s life sciences team. A statement.
According to a report in August, Alpine had $100 million in cash, cash equivalents, restricted cash and investments in June, and is expected to receive a $45 million milestone payment from AbbVie this fall. statement.
The money is part of a license agreement signed with the pharmaceutical giant last year for clinical testing of another immunomodulator, ALPN-101, for the treatment of lupus. Alpine’s ALPN-101 phase 2 trial is underway.
According to the August update, the company’s R&D expenses in the last quarter reached $14.6 million, almost twice the amount in the same quarter in 2020.The company also raised $60 million last year Previous private placement.
Alpine develops therapeutic proteins through a process designed to simulate evolution to design agents that modulate the immune system.
ALPN-303 It works by interfering with the growth and survival of B cells. By calming these key immune cells, ALPN-303 may treat B cell-mediated autoimmune diseases such as lupus and multiple sclerosis.
ALPN-202 As a checkpoint inhibitor, a class of immunotherapy drugs including Keytruda. Checkpoint inhibitors wake up the immune response by interfering with molecules that “check” the immune system and usually suppress it. ALPN-202 has also been enhanced to interfere with the “check” of the two molecules and more directly enhance the function of T cells.
Alpine Pipeline It also includes cell therapy plans.
As part of the new offering, Alpine will issue approximately 6.5 million common shares and 3.2 million prepaid warrants, priced at $9.40. This is a 4.4% premium to Tuesday’s closing price of $9.
This round of investment also includes Decheng Capital, BVF Partners, TCG X, Avidity Partners, OrbiMed, Omega Fund and Logos Capital. Alpine’s stock closed at $9.81 on Wednesday.