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HomeFunding MA-based Diagonal Therapeutics Secures $128Million in Funding

[Funding alert] MA-based Diagonal Therapeutics Secures $128Million in Funding

Diagonal Therapeutics, a biotechnology company pioneering a new approach to discovering and developing agonist antibodies, launched today with Secures $128Million in Funding.

Diagonal Therapeutics, a biotechnology company pioneering a new approach to discovering and developing agonist antibodies, Secures $128Million in Funding.

The Series A was co-led by BVF Partners and Atlas Venture, with participation from Lightspeed Venture Partners, RA Capital Management, Frazier Life Sciences, Viking Global Investors, Velosity Capital, and Checkpoint Capital.

Diagonal was co-founded by Chief Executive Officer, Alex Lugovskoy, Ph.D., and Atlas and previously seeded by Atlas, Lightspeed Venture Partners, and Velosity Capital. The financing will support further advancement of the company’s proprietary DIAGONAL platform and pipeline of novel therapeutics to value-creating milestones, including its lead program for the treatment of hereditary hemorrhagic telangiectasia (HHT).

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A severely debilitating bleeding disorder with limited therapeutic options, through clinical proof-of-concept. Diagonal’s agonist antibody activates a receptor complex in the TGF-β superfamily genetically impaired in HHT patients. In preclinical models of HHT, Diagonal’s agonist antibodies prevent and reverse the formation of pathological vascular malformations.

Alex Lugovskoy said, “We are fundamentally changing how agonist antibody therapies are developed. The DIAGONAL platform allows us to overcome technical limitations that hindered agonist antibody discovery in the past, and we have demonstrated that we can efficiently advance novel drug candidates for diseases where patients have limited or no treatment options, Our approach enables us to treat a wide range of disorders where signaling pathways have been disrupted with agonist antibodies that have superior potency and selectivity, tunable and sustained pharmacology, excellent developability, and low immunogenicity.”

Michael Gladstone, Partner at Atlas Venture and Board Chair of Diagonal said “The biopharmaceutical industry has a robust, growing toolkit of approaches to inhibit disease-associated pathways. However, we still lack systematic pharmacologic approaches to activate biological pathways to treat diseases caused by deficient signaling, Diagonal’s platform addresses this unmet need by rapidly identifying antibodies that activate key pathways. I am excited to support them as they advance their therapeutic candidates for patients in need.”

About Diagonal Therapeutics

Diagonal Therapeutics is a biotech company pioneering a new approach to discovering and developing agonist antibodies. The Company’s DIAGONAL platform combines proprietary computational and experimental techniques to overcome historical challenges associated with agonist antibody drug discovery.

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Diagonal’s emerging pipeline – discovered using the DIAGONAL platform – has the potential to deliver life-changing therapies to patients by tackling the underlying cause of disease.

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