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HomeFunding Cambridge-based Atavistik Bio Secures Additional $40M in Funding

[Funding alert] Cambridge-based Atavistik Bio Secures Additional $40M in Funding

Cambridge-based Atavistik Bio secures additional $40M in funding to advance its lead precision allosteric small molecule therapeutic in oncology into the clinic and to advance its earlier stage pipeline.

Cambridge-based Atavistik Bio secures additional $40M in funding to advance its lead precision allosteric small molecule therapeutic in oncology into the clinic and to advance its earlier stage pipeline.

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The financing included existing investors, including The Column Group, Lux Capital, and Nextech Invest, Ltd. Atavistik Bio has raised $100 million in aggregate since its launch in August 2021.

Bryan Stuart, Chief Executive Officer at Atavistik Bio said, “We’ve made tremendous progress identifying functional pockets of validated targets and have accelerated the development of precision allosteric therapeutics. Key to our success has been our outstanding team with the know-how and proven track record of discovering and developing transformative medicines,We’re grateful to our investors for their continued support of our mission. We look forward to using the proceeds from this raise to advance our lead program into the clinic and progress our additional programs and platform.”

John Josey, Ph.D., Venture Partner at The Column Group and Atavistik Bio’s Board Chair said, “Allostery continues to gain traction given its potential to modulate intractable targets and to offer better tolerated, more effective therapies for current sub-optimally treated diseases, In a short period of time, Atavistik Bio has quickly identified novel allosteric binding pockets in a broad range of targets and built a deep discovery pipeline. We believe that Atavistik Bio’s differentiated approach to identify chemical matter against challenging and valuable targets presents a compelling opportunity to bring important new, allosteric medicines to patients across a broad spectrum of disease areas.”

Atavistik Bio seamlessly integrates its proprietary Atavistik Metabolite-Protein Screening (AMPS) technology with its AI-enabled discovery engine to rapidly advance programs from discovery into development. AMPS efficiently uncovers cryptic functional pockets not detectable with other techniques.

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It accomplishes this by leveraging metabolites, which are natural regulators of protein and RNA function in the body, as ‘bait’ to reveal otherwise hidden allosteric binding pockets on target proteins and functional sites on RNA.

Employing this integrated approach, Atavistik Bio has successfully and rapidly identified functional binding pockets for the development of small molecule therapeutics across a broad range of target classes, including kinases, enzymes, receptors, transcription factors, as well as protein complexes and RNA, and translated these insights into a robust discovery pipeline.

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About Atavistik Bio

Atavistik Bio is focused on unlocking hidden functional pockets to discover transformative allosteric precision therapeutics to address serious unmet patient needs.

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By integrating their propriety screening technology using the body’s natural regulators, with their powerful AI-enabled drug discovery platform, they are able to efficiently identify novel, biologically relevant allosteric sites for protein or RNA targets, and rapidly advance structural insights into small molecule therapeutics design.

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