Oxford spin-out Alethio Therapeutics raises €80.46 million Series A to advance targeted blood cancer therapies
Alethio Therapeutics (Alethio), an Abingdon-on-Thames-based biopharmaceutical company developing next-generation therapies for myeloproliferative neoplasms (MPNs), has announced the completion of an oversubscribed €80.46 million ($90 million/£67 million) Series A financing. The round was co-led by new investors Sofinnova Partners and RA Capital, alongside founding investor Oxford Science…
Oxford-based biotech Alethio Therapeutics has secured €80.46 million (£67 million) in Series A funding to develop targeted therapies for myeloproliferative neoplasms (MPNs). The round, co-led by Sofinnova Partners and RA Capital, is the company's first major financing. Alethio's approach targets disease-driving cells, aiming to modify the underlying disease rather than just manage symptoms.
The funding will support the advancement of their lead candidate, ATX-011, a monoclonal antibody targeting G6B, as well as the development of additional MPN therapies. Alethio's co-founders, Professors Adam Mead and Beth Psaila, emphasized the potential of their approach to move patients beyond symptom management and toward true disease modification.
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