Alentis Secures 1 Million Investment to Propel ADCs into Clinical Development

Alentis Secures 1 Million Investment to Propel ADCs into Clinical Development

Alentis Secures 1 Million Investment to Propel ADCs into Clinical Development

This week, Alentis Therapeutics, a Swiss biotech firm, announced a successful Series D financing round, raising a total of 1.4 million. This funding was backed by major biotech investors, primarily led by OrbiMed, with Novo Holdings and Jeito Capital co-leading the round. The funding aims to propel the development of a pipeline centered on anti-claudin-1 (CLDN1) antibody-drug conjugates (ADCs) tailored for solid tumors.

Alentis is focusing on the development of treatments for CLDN1-positive tumors and organ fibrosis. The recent financing will facilitate the initiation of Phase 1/2 clinical trials for two first-in-class ADCs, ALE.P02 and ALE.P03, aimed at treating CLDN1-positive squamous solid tumors. Although both ADCs are designed to target CLDN1, they employ distinct cytotoxic agents: ALE.P02 utilizes a tubulin inhibitor, while ALE.P03 integrates a topoisomerase inhibitor.

Regarding the Series D fundraising, Alentis CEO Roberto Iacone noted, “This financing is a testament to the transformational potential of CLDN1 ADCs for the treatment of solid tumors. […] We’re excited to execute our development strategy and deliver clinical data for our programs over the next 12-18 months.”

In October 2024, the FDA approved Alentis’ IND application for ALE.P02, allowing the company to kick off its plans for a first-in-human trial scheduled for Q1 2025.

Luigi Manenti, Alentis’ Chief Medical Officer, remarked, “ADCs have shown great potential in the treatment of cancer. Squamous cancers originating in the head and neck, cervix, esophagus, and lung are characterized by high CLDN1 expression, and ALE.P02 provides a first-in-class opportunity for these patients who need new therapies after first-line treatment fails.”

The Series D financing represents Europe’s largest ADC-related fundraising in 2024. Other notable funding events in Europe this year include the 4 million Series A by UK-based Myricx Bio in July and the 4 million Series B2 by the German company Tubulis in March.

As a result of improvements in payload and linker technologies, along with the growing demand for more targeted cancer therapies and an increasing incidence of cancer, the global ADC market is expanding significantly. According to a recent report, the ADC market was valued at .4 billion in 2023 and is projected to achieve a value of .2 billion by 2030, reflecting a compound annual growth rate (CAGR) of 13.8% over the next seven years.