Triveni Bio Inc., a cutting-edge biotech company developing novel antibody treatments for immune and inflammatory (I&I) disorders, announced the successful closure of a $115 million Series B funding round. The round was led by Goldman Sachs Alternatives, with participation from notable new investors such as Fidelity Management & Research Company and Deep Track Capital. Existing Series A investors, including Atlas Venture, Cormorant Asset Management, OrbiMed, Viking Global Investors, and Invus, also contributed to the round.
This fresh capital will be used to accelerate the development of Triveni Bio’s innovative pipeline, which is focused on antibody-based therapies for I&I disorders, an area with significant unmet medical need. The company’s flagship bispecific program, TRIV-573, has garnered attention for its unique dual mechanism of action, which holds promise for improving treatment outcomes in conditions where standard therapies fall short.
Expanding the Pipeline
“We have built a differentiated pipeline of novel drug targets,” said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. “The Series B accelerates our pipeline expansion, particularly for our bispecific program, TRIV-573, which uniquely combines two orthogonal mechanisms of action. This approach has the potential to significantly enhance therapeutic efficacy.”
Triveni’s TRIV-573 combines inhibition of kallikreins 5 and 7 (KLK 5/7) with an IL-13 mechanism, offering a powerful combination to tackle difficult-to-treat conditions. The company also has other promising programs in its pipeline, including the monoclonal antibody TRIV-509, which targets KLK 5/7 and has demonstrated superior efficacy compared to existing IL-4R inhibitors in preclinical models of atopic dermatitis.
The company plans to submit an Investigational New Drug (IND) application for TRIV-509 in the first quarter of 2025, marking a critical milestone in its journey toward clinical-stage development. This antibody has the potential to significantly improve patient outcomes in atopic dermatitis, a chronic inflammatory skin condition that affects millions globally and lacks effective long-term treatments.
Strategic Leadership and Scientific Innovation
In addition to advancing its pipeline, Triveni Bio is strengthening its leadership team to support its ambitious goals. The company recently appointed Bhaskar Srivastava, M.D., Ph.D., as Chief Medical Officer, bringing extensive clinical expertise to guide the company through upcoming clinical trials and regulatory submissions.
“We have been impressed with the team’s progress toward becoming a clinical-stage organization for I&I disorders, where standard of care is lacking,” said Josh Richardson, M.D., Managing Director at Goldman Sachs Alternatives. “We look forward to supporting both programs through clinical proof-of-concept and beyond, as Triveni is poised to bring innovative treatments to market.”
The Series B financing will also be used to expand Triveni’s data science platform, particularly in precision dermatology. This initiative underscores the company’s commitment to leveraging advanced technologies and data-driven approaches to personalize treatments and improve therapeutic outcomes for patients suffering from debilitating inflammatory conditions.
Addressing Unmet Needs in Hereditary Pancreatitis
In addition to its focus on dermatology and I&I disorders, Triveni Bio is making strides in addressing hereditary pancreatitis, a rare genetic disorder predominantly caused by mutations in the PRSS1 gene. The condition, which affects approximately 10,000 individuals in the United States, currently has no approved treatments, leading to significant suffering for patients.
Triveni is developing an antibody inhibitor of trypsin 1 and 2, which has shown promise as a potential treatment for hereditary pancreatitis. By targeting the root cause of the condition, this innovative therapy could provide relief for patients and pave the way for new treatments in this under-researched area.
Rapid Growth and Future Plans
Triveni Bio’s rapid growth and success can be attributed to its strategic focus on novel drug development and its ability to attract top-tier investors. The company raised $92 million in a Series A less than a year ago, demonstrating strong investor confidence in its pipeline and mission. With the additional $115 million from the Series B round, Triveni now has the financial backing to take multiple programs through clinical development and ultimately bring new treatments to market.
The Series B funding will not only accelerate the development of its existing pipeline but will also support the company’s efforts to explore new therapeutic areas and drug combinations. This broad approach to antibody development positions Triveni Bio as a leader in the field, with the potential to transform the treatment landscape for multiple immune and inflammatory disorders.
“We are committed to advancing the frontier of antibody-based therapies,” said Patel. “With this funding, we are well-positioned to move forward with our innovative programs, address critical unmet medical needs, and improve the lives of patients with inflammatory conditions.”
A Promising Future in I&I Disorders
Triveni Bio is at the forefront of developing next-generation therapies for complex immune and inflammatory disorders, a field where current treatments often fail to provide lasting relief. With its strong leadership team, innovative scientific approach, and substantial financial backing, the company is poised to make significant contributions to the biotech industry.
As the company continues to expand its pipeline and develop new therapies, Triveni Bio remains focused on bringing life-changing treatments to patients in need. The success of the Series B round is a testament to the company’s potential and its commitment to advancing the science of antibody-based treatments for I&I disorders.
By harnessing the power of precision medicine and novel drug combinations, Triveni Bio is setting the stage for a new era of treatment options in immune and inflammatory diseases. The company’s continued growth and innovation promise to make a meaningful impact on the lives of patients and the healthcare industry as a whole.
