Alumis Announces Upsized $259M Series C Financing to Advance Clinical-stage Pipeline of Oral Therapies Designed to Address Immune Dysfunction
SOUTH SAN FRANCISCO, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Alumis Inc., a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to transform the lives of patients with immune-mediated diseases, today announced an upsized $259M Series C financing. Alumis plans to use the proceeds of the financing to initiate pivotal Phase 3 clinical trials for its lead candidate ESK-001, a highly selective and potentially best-in-class allosteric tyrosine kinase 2 (TYK2) inhibitor, in moderate to severe plaque psoriasis in the second half of 2024, as well as support the two ongoing Phase 2 clinical trials for ESK-001 in systemic lupus erythematosus (SLE), and non-infectious uveitis. The financing will also support the further advancement of Alumis’ precision data analytics and multi-platform approach to explore ESK-001’s potential application in other autoimmune indications, as well as A-005, a TYK2 inhibitor for the treatment of neuroinflammatory and neurodegenerative diseases, and its earlier-stage internal pipeline programs.
– Financing led by Foresite Capital, Samsara BioCapital and venBio Partners with participation from additional new and existing investors –
– Proceeds will support ongoing comprehensive mid to late-stage clinical development program for ESK-001 in plaque psoriasis, systemic lupus erythematosus (SLE) and uveitis –
– Alumis will continue to explore ESK-001’s potential application in other immune-mediated diseases, as well as advance pipeline programs including A-005 for the treatment of neuroinflammatory and neurodegenerative diseases –
SOUTH SAN FRANCISCO, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Alumis Inc., a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to transform the lives of patients with immune-mediated diseases, today announced an upsized $259M Series C financing. Alumis plans to use the proceeds of the financing to initiate pivotal Phase 3 clinical trials for its lead candidate ESK-001, a highly selective and potentially best-in-class allosteric tyrosine kinase 2 (TYK2) inhibitor, in moderate to severe plaque psoriasis in the second half of 2024, as well as support the two ongoing Phase 2 clinical trials for ESK-001 in systemic lupus erythematosus (SLE), and non-infectious uveitis. The financing will also support the further advancement of Alumis’ precision data analytics and multi-platform approach to explore ESK-001’s potential application in other autoimmune indications, as well as A-005, a TYK2 inhibitor for the treatment of neuroinflammatory and neurodegenerative diseases, and its earlier-stage internal pipeline programs.
The financing was co-led by existing investor, Foresite Capital, and new investors, Samsara BioCapital and venBio Partners, with additional participation from new investors Cormorant Asset Management, SR One, Lilly Asia Ventures, Nextech, Ally Bridge Group, HBM Healthcare Investments, Omega Funds, Piper Heartland Healthcare and existing investors AyurMaya, an affiliate of Matrix Capital Management and a U.S.-based healthcare-focused fund. Srinivas Akkaraju, M.D., Ph.D., Founder and Managing General Partner of Samsara BioCapital, and Richard Gaster, M.D., Ph.D., Managing Partner at venBio Partners, will join Alumis’ Board of Directors.
"We are pleased to announce our successful Series C financing and we are grateful for the support of our strong investor syndicate, a group that shares our commitment to transforming the treatment paradigm for patients living with immune-mediated diseases,” said Martin Babler, Alumis’ President and Chief Executive Officer. “This investment will support the continued clinical development of ESK-001, building on promising data that have demonstrated full, sustained target inhibition leading to a potentially best-in-class oral TYK2 inhibitor profile. It will also support continued advancement of additional pipeline programs powered by our proprietary precision immunology platform for target discovery and clinical development.”
“Led by a team with a proven track record in immunology and with whom we have successfully partnered previously, Alumis has advanced a strong immunology pipeline, including two oral allosteric TYK2 inhibitors, fueled by an innovative platform,” said Srinivas Akkaraju, M.D., Ph.D., Founder and Managing General Partner of Samsara BioCapital. “We are proud to invest in and work with this team again to support their continued growth and success as they explore both the full potential of their lead program, ESK-001, in immune-mediated diseases and the broad opportunity where the TYK2 pathway plays a key role.”
“There is a significant unmet need in immunology for oral therapies that can provide improved efficacy and safety,” said Richard Gaster, M.D., Ph.D., Managing Partner at venBio Partners. “Alumis’ precision approach in this field – focused on the application of data science and translational insights to validated targets that drive immune dysfunction – will ultimately lead to better outcomes for patients, and we look forward to supporting the team as they work to realize that goal.”
Jim Tananbaum, founder and CEO of Foresite Capital, added, “The partnership with Foresite Labs, which incubated Alumis, and its robust genetics and data analytics platform combined with Alumis’ expertise in the discovery and development of therapies for immune-mediated diseases has demonstrated powerful synergy. We are now starting to see how this will translate into outcomes for patients. We are proud of the company’s progress and happy to continue to support and work with the Alumis team and Board of Directors in this next stage of the company’s growth.”
About ESK-001
ESK-001 is a highly selective and potentially best-in-class allosteric tyrosine kinase 2 (TYK2) inhibitor. The clinical program for ESK-001 includes the Phase 2 STRIDE trial and an open-label extension (OLE) study for the treatment of patients with moderate to severe plaque psoriasis, a Phase 2b clinical trial of ESK-001 for the treatment of patients with systemic lupus erythematosus (LUMUS), and a proof-of-concept Phase 2 clinical trial in non-infectious uveitis (OPTYK-1). In addition, Alumis continues to leverage its precision data analytics and a multi-platform approach to explore ESK-001’s potential application in other autoimmune indications.
About Alumis
Alumis is a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to optimize outcomes and transform the lives of patients with immune-mediated diseases. Leveraging its precision data analytics and a multi-platform approach, Alumis is advancing a pipeline of oral therapies designed to address immune dysfunction. Alumis’ lead candidate ESK-001 is a highly selective and potentially best-in-class allosteric tyrosine kinase 2 (TYK2) inhibitor that is currently being evaluated for the treatment of patients with moderate to severe plaque psoriasis, systemic lupus erythematosus (SLE), and non-infectious uveitis. Alumis is also developing A-005, a potential first-in-class brain-penetrant allosteric TYK2 inhibitor for the treatment of neuroinflammatory and neurodegenerative diseases that is anticipated to enter a Phase 1 clinical trial in the first half of 2024. Alumis also has discovery efforts in undisclosed immune-mediated diseases and targets identified by its data analytics platform. Incubated by Foresite Labs and led by a team of experts with deep experience and proven track records in drug discovery, development and immunology, Alumis is developing transformative therapies that aim to reimagine the lives of people with immune-mediated diseases. For more information, please visit alumis.com.
About Foresite Capital
Foresite Capital is a multi-stage healthcare and life sciences investment firm with approximately $3.5 billion in assets under management. The firm aims to address areas of great unmet need by funding promising healthcare and life sciences businesses at all stages of their life cycles. Foresite Capital uses a data science-driven approach to invest in companies that leverage biology and big data to transform healthcare, as well as companies developing next generation therapeutics. Founded in 2011, Foresite Capital is based in the San Francisco Bay Area, Los Angeles and New York City. For more information, please visit www.foresitecapital.com.
About Samsara BioCapital
Samsara BioCapital is a new breed of biotech investment firm focused on translating cutting-edge biology into new therapies to treat patients with unmet medical needs. Founded in 2016 by Srinivas Akkaraju, M.D., Ph.D., our team of scientists, investors and entrepreneurs takes a long-term view on value creation across all stages of public and private life science companies. We believe in a collaborative, hands-on approach, working closely with entrepreneurs to harness exciting scientific advances and build leading companies. Samsara actively manages assets on behalf of endowments, foundations and family offices. For more information, please visit www.samsaracap.com.
About venBio Partners
venBio Partners is a life sciences investment firm that partners with industry leaders to build and invest in innovative medicines and technologies, with a focus on novel therapeutics for unmet medical needs. For more information, please visit www.venbio.com.
Alumis Contact
Teri Dahlman
Red House Communications
[email protected]
