TLDR:
– Alumis has raised $259 million in series C financing, the largest private biotech fundraising of 2024 so far
– The funding will support the development of oral therapies for immune dysfunction, including a phase 3 trial for psoriasis treatment ESK-001
In the latest biotech news, Alumis has closed a massive $259 million series C financing round, making it the largest private biotech fundraising of the year so far. The funding will be used to support the development of oral therapies aimed at tackling immune dysfunction, with a particular focus on launching a phase 3 trial for the lead asset ESK-001, which is targeted for psoriasis treatment. The successful fundraising speaks to investors’ confidence in Alumis’ team, assets, strategy, and technology, according to CEO Martin Babler. The company plans to use the funds to start pivotal phase 3 trials for ESK-001, an allosteric tyrosine kinase 2 (TYK2) inhibitor, in moderate to severe plaque psoriasis later in the year.
In addition to psoriasis treatment, Alumis is also exploring the potential of ESK-001 in systemic lupus erythematosus and non-infectious uveitis, with the hope of expanding its applications to other autoimmune indications. The company is also developing another TYK2 inhibitor, A-005, as a possible treatment for neuroinflammatory and neurodegenerative diseases. The success of the fundraising round has opened up new opportunities for Alumis, including the possibility of an IPO in the future.
