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HomeFunding CA-based Alumis Secures an upsized $259Million in Series C Round Funding

[Funding alert] CA-based Alumis Secures an upsized $259Million in Series C Round Funding

Alumis Inc., a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to transform the lives of patients with immune-mediated diseases Secures an upsized $259Million in Series C Round Funding.

Alumis Inc., a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to transform the lives of patients with immune-mediated diseases Secures an upsized $259Million in Series C Round Funding.

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.

Read also – CA-based Synctera Secures an $18.6Million in Series A-1 Extension to its 2021 Series A Funding

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.

Martin Babler, Alumis’ President and Chief Executive Officer said, “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, 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.”

Srinivas Akkaraju, M.D., Ph.D., Founder and Managing General Partner of Samsara BioCapital said, “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, 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.”

Richard Gaster, M.D., Ph.D., Managing Partner at venBio Partners said, “There is a significant unmet need in immunology for oral therapies that can provide improved efficacy and safety,”“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 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.

Read also – CA-based MoeGo Secures $24Million in Series A Round Funding

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.

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