Latigo Biotherapeutics, a clinical-stage biotechnology company focused on developing non-opioid pain treatments, has secured $150 million in Series B financing. The funds will be used to advance its highly selective Nav1.8 inhibitors currently in clinical trials, along with the development of its broader pipeline aimed at providing safer and more effective pain relief options.
The financing round was led by funds managed by Blue Owl Capital, with participation from Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital. Existing investors, including Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments, also contributed, reaffirming their commitment to Latigo’s mission.
Nima Farzan, CEO of Latigo Biotherapeutics, emphasized the urgency of developing alternatives to opioids, stating that the financing will help accelerate their efforts to bring transformative pain treatments to market. He expressed gratitude for the support of both new and existing investors in advancing their non-addictive solutions.
As part of the investment, Kevin Raidy, senior managing director at Blue Owl Capital, has joined Latigo’s board of directors. Raidy highlighted the need for innovation in pain management and noted that Latigo is well-positioned to introduce novel treatments that could have a significant impact on patients’ lives. Timothy P. Walbert, chair of Latigo’s board, welcomed Raidy and emphasized that his expertise in life sciences investing and strategic growth would be instrumental in scaling the company’s efforts. With strong backing from investors, Latigo aims to push forward the development of its non-opioid treatments for chronic and acute pain.
