AltruBio has secured $225m in an oversubscribed Series B financing round to progress the clinical development of its new immune checkpoint enhancer (ICE) programme.

BVF Partners led the funding round with contributions from new investors including RA Capital Management, Soleus Capital, Cormorant Asset Management and Delos Capital.

Existing investors aMoon Fund and Blackstone Multi-Asset Investing also participated in the funding syndicate.

The funds will primarily support ongoing and planned Phase II clinical studies of the ICE PSGL-1 agonist antibody ALTB-268 to treat ulcerative colitis (UC).

ALTB-268 is currently under investigation in a Phase IIa exploratory biomarker study targeting patients with biologic refractory UC.

The study’s primary endpoint is clinical remission per the modified Mayo score, with results expected in the first half of 2025.

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AltruBio is preparing to launch a randomised, global, placebo-controlled Phase IIb clinical trial.

Clinical remission in advanced therapy-experienced as well as treatment-naïve patients with moderately to severely active UC will be the trial’s primary endpoint.

Results from the trial are anticipated in the second half of 2026.

AltruBio president and CEO Dr Judy Chou stated: “We are honoured to welcome this esteemed new group of investors, whose participation complements the support of our existing world-class investor group. Their collective backing not only affirms the potential of our programme and company but also our mission of developing durable biologic therapies for patients suffering from autoimmune diseases.

“With this substantial investment, we are one step closer to bringing our first-in-class, novel immune checkpoint enhancer, ALTB-268, through our ongoing Phase IIa exploratory biomarker study and initiating an additional Phase IIb study, while paving the way for potential indication expansion beyond ulcerative colitis.”