Triveni Bio Raises $65M in Series C Funding Led by Ascenta Capital

The round also saw participation from Deep Track Capital, alongside additional existing investors.

The company plans to use the funds to advance the clinical development of TRIV-573, including a Phase 2 proof-of-concept study for atopic dermatitis that is expected to begin later this year.

TRIV-573 is a next-generation bispecific treatment with an extended half life that targets the root causes of atopic dermatitis. It works by blocking both KLK5/7, which play a key role in skin barrier damage, and IL-13, a major driver of inflammation with the goal of improving skin health and reducing disease symptoms.

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The funding comes just weeks after the start of the first human clinical trials for TRIV-573. As part of the financing, industry veteran Dr. Evan Rachlin, Co-Founder and Managing Partner of Ascenta Capital, has joined Triveni Bio’s Board of Directors.

The companys progress has also been recognized through CEO Vishal Patel, Ph.D., who was recently named a finalist for the 2026 Ernst & Young (EY) Entrepreneur Of The Year® award. The nomination highlights his leadership and success in advancing programs from early concept to clinical trials with speed, and scientific rigor.

"Triveni Bio has rapidly and efficiently advanced novel programs to address significant gaps in the existing standard-of-care," said Evan Rachlin, M.D. "The speed with which the team has progressed two assets into the clinic—less than one year apart—is a testament to their operational execution. I am thrilled to join the Board of Directors at this exciting inflection point for the company."

"This financing enables us to disrupt the status quo in atopic dermatitis, addressing not just inflammation, but the underlying dysfunction of the skin barrier, positioning Triveni to bring a long-overdue option to a population of patients still in need of relief," said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. "We have built a highly differentiated pipeline that combines novel biology with established anti-inflammatory mechanisms. In addition to a thorough investigation of TRIV-573 in atopic dermatitis, this funding allows us to explore kallikrein 5/7 biology in other related barrier disorders."

About Triveni Bio

Triveni Bio is a biotechnology company developing innovative antibody-based treatments for immune and inflammatory diseases. The company uses a precision medicine approach, combining genetic research and biological insights to identify promising therapies and demonstrate their effectiveness early in the drug development process.

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