Diagonal Therapeutics Launches with $128 Million in Financing to Pioneer a New Approach to Discovering and Developing Agonist Antibodies to Tackle the Underlying Causes of Severely Debilitating Diseases
CAMBRIDGE, Mass., April 03, 2024 (GLOBE NEWSWIRE) -- Diagonal Therapeutics, a biotechnology company pioneering a new approach to discovering and developing agonist antibodies, launched today with $128 million in financing. The Series A was co-led by BVF Partners and Atlas Venture, with participation from Lightspeed Venture Partners, RA Capital Management, Frazier Life Sciences, Viking Global Investors, Velosity Capital, and Checkpoint Capital. Diagonal was co-founded by Chief Executive Officer, Alex Lugovskoy, Ph.D., and Atlas and previously seeded by Atlas, Lightspeed Venture Partners, and Velosity Capital. The financing will support further advancement of the company’s proprietary DIAGONAL platform and pipeline of novel therapeutics to value-creating milestones, including its lead program for the treatment of hereditary hemorrhagic telangiectasia (HHT), a severely debilitating bleeding disorder with limited therapeutic options, through clinical proof-of-concept. Diagonal's agonist antibody activates a receptor complex in the TGF-β superfamily genetically impaired in HHT patients. In preclinical models of HHT, Diagonal's agonist antibodies prevent and reverse the formation of pathological vascular malformations.
- Diagonal was co-founded by Alex Lugovskoy, Ph.D., and Atlas and previously seeded by Atlas, Lightspeed Venture Partners, and Velosity Capital.
- CAMBRIDGE, Mass., April 03, 2024 (GLOBE NEWSWIRE) -- Diagonal Therapeutics, a biotechnology company pioneering a new approach to discovering and developing agonist antibodies, launched today with $128 million in financing.
- Diagonal was co-founded by Chief Executive Officer, Alex Lugovskoy, Ph.D., and Atlas and previously seeded by Atlas, Lightspeed Venture Partners, and Velosity Capital.
- In preclinical models of HHT, Diagonal's agonist antibodies prevent and reverse the formation of pathological vascular malformations.