Healthcare Industry News: Novo Ventures
News Release - April 7, 2014
Alios BioPharma Raises $41 Million in Series B FinancingNew Capital Will Fund Further Development of Respiratory Virus Therapies
SOUTH SAN FRANCISCO, CA--(Healthcare Sales & Marketing Network) - Alios BioPharma, Inc., a biotechnology company developing proprietary therapeutics for respiratory viral diseases, today announced it has completed a $41 Million Series B financing. All existing investors -- Novo Ventures, SR One, Roche Venture Fund and Novartis Ventures -- participated in this round, which was led by a new, undisclosed investor.
"We are pleased to welcome our newest investor and to have the continued support from our current investors for this round of financing," stated Lawrence M. Blatt, PhD, President and Chief Executive Officer of Alios BioPharma. "This funding will allow Alios to retain ownership and control of our novel, first-in-class anti-respiratory virus development programs."
Proceeds from this financing will be used primarily to support continued clinical development of Alios' respiratory portfolio, including AL-8176, an anti-RSV nucleoside analog now in Phase 2 clinical development, and multiple late-stage preclinical development programs targeting Influenza and Rhinovirus.
Alios successfully completed Phase 1 testing of AL-8176 in healthy volunteers in 2013. The company is currently conducting two clinical studies in RSV-infected individuals. The first study is a Phase 2a clinical trial designed to evaluate the safety, pharmacokinetics and antiviral activity of multiple doses of AL-8176 against respiratory syncytial virus (RSV) infection in a virus challenge study. The second study comprises a single ascending dose clinical trial in infants hospitalized with RSV infection that is also examining safety, pharmacokinetics and antiviral activity.
Alios BioPharma is a privately-held biotechnology company located in South San Francisco, CA, that is developing novel medicines aimed at the treatment of viral diseases. Alios has an innovative team of highly experienced scientists and clinical researchers who are developing direct acting antiviral agents against several human viral pathogens of public health importance including respiratory viruses, and other chronic, acute and emerging viral diseases. The overall goal for the Alios therapeutic platform is to maximize patient benefits in areas of high unmet medical need through optimization of potency, safety and tolerability. For more information please visit www.aliosbiopharma.com.
Source: Alios BioPharma
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