Lassen Therapeutics Secures $85 Million in Oversubscribed Series B Financing

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Clinical-stage biotech company Lassen Therapeutics has successfully closed an oversubscribed Series B financing round, raising $85 million. Frazier Life Sciences co-led the financing alongside new investor Longitude Capital, with participation from BVF Partners, Catalio Capital Management, Alta Partners, and Longwood Capital. Lassen Therapeutics focuses on developing first-in-class antibody therapeutics, including LASN01 targeting interleukin-11 receptor for fibro-inflammatory diseases like TED and IPF, and LASN500, a monoclonal antibody targeting interleukin-18 binding protein for cancer treatment. The funds will support the clinical program for LASN01 and advance LASN500’s IND-enabling activities.

Key activities supported by the financing include:

  1. Expansion of Phase 1 Study: Completion of the Phase 1 study in healthy volunteers, demonstrating a favorable safety profile and leading to the expansion of the program to patient cohorts in IPF and TED.
  2. Initiation and Expansion of Phase 2 Program: LASN01 Phase 2 programs in TED in the US and internationally are progressing, with FDA IND clearance and Clinical Trial Authorisation received. The Phase 2 program involves enrolling patients, and work is ongoing to activate additional sites in the US and globally.
  3. Subcutaneous Formulation Development: Initiation of process development for a subcutaneous presentation of LASN01.

Maria Fardis, CEO of Lassen Therapeutics, expressed satisfaction with the recent advancements, highlighting the potential of LASN01 in treating fibro-inflammatory disorders. The encouraging data from orbital fibroblasts and the positive Phase 1 safety data support the progression of LASN01 into Phase 2 for TED. The company aims to develop new therapeutic options for patients with serious unmet medical needs.

Brian Liu, Managing Director at Longitude Capital, commended Lassen’s progress and its ability to develop two first-in-class programs. He expressed optimism about LASN01, particularly as it enters Phase 2, emphasizing its potential in addressing unmet medical needs in various fibro-inflammatory indications.

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