ALTAIR THERAPEUTICS SECURES $17 MILLION FINANCING
Round to fund phase 2a clinical trials for lead candidate AIR645, advance R&D
SAN DIEGO-November 11, 2009-Altair Therapeutics, Inc., a privately-held, biopharmaceutical company developing novel therapeutics for respiratory diseases, today announced that it has secured $17 million in a subsequent financing round. Altair Therapeutics will use the funding to complete phase 2a trials for its lead product, inhaled AIR645 and advance research and development in new target programs. Domain Associates, LLC led the round, and AgeChem Venture Fund LP joined previous investors Thomas, McNerney & Partners, LLC, Forward Ventures and Isis Pharmaceuticals, Inc. Terms of the investment were not disclosed.
"Altair Therapeutics is applying novel science to treat the unmet needs of asthma patients and patients in other respiratory disease areas. We are convinced that the strength of the unique technology combined with the experience of the team makes Altair a very attractive investment and we are glad to be able to support Altair in its further development," said Kim Kamdar, Ph.D., Domain Associates.
"We are thrilled to have Domain Associates and Agechem Venture Fund join our investor syndicate," said Joel F. Martin, Ph.D., President and CEO of Altair Therapeutics. "Our favorable phase 1 safety and biomarker data helped us secure this preeminent group."
AIR645 is a dual inhibitor of IL-4 and IL-13, pro-inflammatory cytokines which are implicated in the pathogenesis of asthma, allergic rhinitis and other inflammatory disorders. AIR645 is a 2'-O-methoxyethyl second-generation antisense drug targeting the mRNA that encodes the alpha subunit of the human IL-4 receptor (IL-4Rα). IL-4Rα is the signaling chain that is shared by the IL-4 and IL-13 receptors and is required for cellular responses to IL-4 and IL-13. AIR645 has the potential for less frequent administration with improved local and systemic safety. AIR645 was discovered by Isis Pharmaceuticals, Inc. (NASDAQ: ISIS) and licensed to Altair Therapeutics.
About Altair Therapeutics
Based in San Diego, Altair Therapeutics, Inc. is a privately-held biopharmaceutical company developing novel therapeutics to treat human respiratory diseases. Altair Therapeutics' lead product is AIR645, the first in a new class of inhaled drugs that incorporate proprietary, second-generation antisense chemistry. www.altairthera.com