Triveni Bio, a Watertown, Massachusetts-based biotech, has announced a $115 million Series B funding round to further its development of antibody drugs targeting inflammatory diseases. The funding, led by Goldman Sachs Alternatives, will primarily support the advancement of TRIV-509, Triveni's lead candidate for atopic dermatitis.
Targeting Kallikreins for Atopic Dermatitis
TRIV-509 is designed to target kallikreins 5 and 7, two enzymes that are overexpressed in the majority of individuals with atopic dermatitis, a common form of eczema. According to Jennifer Dovey, Triveni's chief scientific officer, preclinical research indicates that TRIV-509 may offer a more potent approach to treating the disease compared to existing therapies that target the IL-4R cytokine, such as Dupixent.
Addressing Unmet Needs in Atopic Dermatitis Treatment
While there are already approved and effective therapies for atopic dermatitis, including Sanofi and Regeneron Pharmaceuticals’ Dupixent, Triveni believes there is still room for improvement in terms of efficacy, choice, and convenience for patients. CEO Vishal Patel noted that some individuals do not respond to current treatments, and many existing drugs primarily target inflammation, while atopic dermatitis involves a "vicious cycle" of skin barrier dysfunction, inflammation, and itch.
Triveni aims to address all three aspects with TRIV-509. The company plans to submit an Investigational New Drug (IND) application to the Food and Drug Administration (FDA) in early 2025 to begin its first clinical trial for TRIV-509.
Expanding Pipeline and Future Plans
In addition to TRIV-509, Triveni is also developing a bispecific antibody that targets kallikreins 5 and 7, as well as the cytokine IL-13, which is involved in inflammation. The company has not yet disclosed the specific diseases this drug will target. A third candidate is in development for hereditary pancreatitis, a rare condition affecting approximately 10,000 people in the U.S. for which there are currently no approved treatments.
The Series B funding will sustain Triveni's operations through 2027. Fidelity Management & Research, Deep Track Capital, Cormorant Asset Management, and Atlas Venture also participated in the funding round.
In June, Triveni appointed Bhaskar Srivastava as its chief medical officer. Srivastava previously held senior clinical development roles at Nimbus Therapeutics and Johnson & Johnson.
