Alnara Pharmaceuticals has assembled the financing it needs to push its lead product--liprotamase, an enzyme replacement therapy for cystic fibrosis patients--through an NDA this quarter and on to commercialization. New investor MPM Capital led a $35 million Series B for Alnara, and was joined by current investors Third Rock Ventures, Frazier Healthcare and Bessemer Venture Partners.
For a developer founded just a little more than a year ago, Alnara has come far and it has come fast. The Cambridge, MA-based developer is wrapping up its NDA for liprotamase and believes it can hit the $400 million market for this type of therapy before the end of the year.
Alnara licensed liprotamase from the Cystic Fibrosis Foundation back in the spring of 2009, just a few months after CEO Alexey Margolin, PhD, announced his $20 million Series A. At that point, the therapy had already gone through Phase III.
"This round of funding increases financial flexibility for Alnara as the company prepares to commercialize liprotamase," says MPM managing director Ashley Dombkowski, Ph.D., who is joining the board. "As a recombinant product with positive long-term safety and nutritionally relevant data, liprotamase helps to address many of the unmet needs in this dynamic therapeutic area. This strong product profile, combined with the NDA filing planned for this quarter, positions Alnara on the cusp of significant value creation opportunities."
- here's Alnara's release