Alumis Announces Upsized $259M Series C Financing to Advance Clinical-stage Pipeline of Oral Therapies Designed to Address Immune Dysfunction
SOUTH SAN FRANCISCO, Calif., March 06, 2024 (GLOBE NEWSWIRE) -- Alumis Inc., a clinical-stage biopharmaceutical company developing oral therapies using a precision approach to transform the lives of patients with immune-mediated diseases, today announced an upsized $259M Series C financing. Alumis plans to use the proceeds of the financing to initiate pivotal Phase 3 clinical trials for its lead candidate ESK-001, a highly selective and potentially best-in-class allosteric tyrosine kinase 2 (TYK2) inhibitor, in moderate to severe plaque psoriasis in the second half of 2024, as well as support the two ongoing Phase 2 clinical trials for ESK-001 in systemic lupus erythematosus (SLE), and non-infectious uveitis. The financing will also support the further advancement of Alumis’ precision data analytics and multi-platform approach to explore ESK-001’s potential application in other autoimmune indications, as well as A-005, a TYK2 inhibitor for the treatment of neuroinflammatory and neurodegenerative diseases, and its earlier-stage internal pipeline programs.
- Srinivas Akkaraju, M.D., Ph.D., Founder and Managing General Partner of Samsara BioCapital, and Richard Gaster, M.D., Ph.D., Managing Partner at venBio Partners, will join Alumis’ Board of Directors.
- “This investment will support the continued clinical development of ESK-001, building on promising data that have demonstrated full, sustained target inhibition leading to a potentially best-in-class oral TYK2 inhibitor profile.
- We are now starting to see how this will translate into outcomes for patients.
- We are proud of the company’s progress and happy to continue to support and work with the Alumis team and Board of Directors in this next stage of the company’s growth.”