AltruBio Secures $225 Million Series B

SAN FRANCISCO — AltruBio Inc., a clinical stage biotechnology company dedicated to the development of novel therapeutics for the treatment of immunological diseases, has raised an oversubscribed Series B financing of up to $225 million. AltruBio plans to use the proceeds of the financing to advance the clinical development of the Company’s first-in-class, novel immune checkpoint enhancer (ICE) PSGL-1 agonist antibody, ALTB-268. The funds will be used to support ongoing and planned Phase 2 clinical trials in ulcerative colitis (UC), one of many immunological disorders where the mechanism has been clinically validated.

The financing was led by BVF Partners LP with participation from new investors RA Capital Management, Cormorant Asset Management, and Soleus Capital, as well as existing investors aMoon Fund and Blackstone Multi-Asset Investing, with other new and existing investors joining the syndicate.

The Company’s first-in-class, novel ICE agonist antibody, ALTB-268, is currently being studied in a Phase 2a exploratory biomarker study in patients with biologic refractory UC with an anticipated readout for its primary endpoint of clinical remission per modified Mayo score in 1H 2025. The company plans to initiate a global Phase 2b randomized, placebo-controlled clinical trial with a primary endpoint of clinical remission in both advanced therapy experienced and treatment naive patients with moderately to severely active UC. This study is anticipated to read out in 2H of 2026.

“We are honored 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 program and company but also our mission of developing durable biologic therapies for patients suffering from autoimmune diseases,” said Dr. Judy Chou, President and Chief Executive Officer of AltruBio. “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 2a exploratory biomarker study and initiate an additional Phase 2b study, while paving the way for potential indication expansion beyond ulcerative colitis. With our experienced team in place and this significant financing, we are poised to accelerate our efforts and deliver innovative treatments to patients in need.”

“Treatment options remain limited in many autoimmune conditions, including moderate to severe ulcerative colitis, and novel mechanisms are sorely needed,” commented Gorjan Hrustanovic, Ph.D., Managing Director at BVF Partners LP. “We are excited to support AltruBio and their commitment to developing a potential first-in-class medicine across multiple autoimmune indications, starting with UC.”