REDWOOD CITY & SHENZHEN, China — LTZ Therapeutics, a clinical-stage, immunotherapy-focused biotechnology company, has announced the completion of an oversubscribed $38 million financing round to accelerate development of its Universal Myeloid Cell Engager (U-MCE™)-based immunotherapy pipeline, particularly its lead asset LTZ-301 targeting oncology and autoimmune diseases. The round was led by GL Ventures, with substantial participation from a sovereign wealth fund and continued support from existing shareholders. This financing brings LTZ’s total funding to approximately $130 million since its founding in 2022.
Proceeds from this round will be used to accelerate development of LTZ’s pipeline, supporting the company’s ongoing Phase 1 clinical study of its lead asset, LTZ-301, which is actively enrolling patients from multiple top clinical sites in the US, as well as the Investigational New Drug (IND) filing and Phase 1 initiation of its second asset, LTZ-232.
“This financing empowers us to translate the potential of our Myeloid Engager Platform into tangible clinical impact for patients,” said Robert Li, Ph.D., founder and chief executive officer of LTZ Therapeutics. “We are building strong momentum across our pipeline and we’re grateful for the robust support from high-caliber investors, whose partnership enables us to accelerate the development of innovative immunotherapies designed to harness myeloid biology to address significant unmet medical needs.”
Coinciding with this financing round, LTZ has appointed Erin Lavelle as the company’s independent board director.
“We’re excited to welcome Erin Lavelle to our board at this pivotal stage of growth,” added Li. “Erin brings over 25 years of industry executive experience spanning across large pharma and biotech, including both private and public companies. Most recently as the chief operating officer and chief financial officer of ProfoundBio, Ms. Lavelle led the company’s $1.8 billion acquisition by Genmab and the $112 million oversubscribed Series B financing preceding the acquisition, and spearheaded the company’s public company readiness efforts. Erin’s addition to LTZ Board will be invaluable as we continue advancing our clinical pipeline and scaling the company globally.”
“GL Ventures is pleased to partner with LTZ as the company scales its novel, proprietary U-MCE platform to harness the therapeutic potential of myeloid biology through multiple early-stage programs,” according to a statement from GL Ventures. “The transition of its lead asset LTZ-301 into Phase 1, alongside the upcoming IND filing for LTZ-232, reflects the team’s operational efficiency and proven ability to execute on this first-in-class modality. We will continue to support Robert and his team as they advance this innovative platform to bring breakthrough treatment options to patients.”
LTZ has main operations in Redwood City and Shenzhen, China.
