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Altheos finalizes $20 million financing for new glaucoma treatment
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SOUTH SAN FRANCISCO, Calif. — Altheos has completed a $20 million financing arrangement to fund the development of a proprietary glaucoma treatment, the company announced in a press release.
The Series A financing, led by Bay City Capital, will be devoted mainly to the development of ATS907, a selective Rho-kinase inhibitor licensed from Asahi Kasei Pharma of Japan. The license also includes AK138 series compounds designed for topical glaucoma treatment.
There are no Rho-kinase inhibitors currently on the market for glaucoma, the release said.
"No therapeutics based upon new mechanisms of action have been approved for glaucoma in 15 years," Henry Hsu, MD, CEO of Altheos, said in the release. "ATS907 is in a new class of therapies that may provide a much needed alternative for the growing aging population who are most afflicted by the disease. The strong interest in the development candidate ATS907 by top investors is a testament to its potential as well as those within the AK138 series which Altheos has licensed."
Rho-kinase inhibitors have been identified as a key mediator of aqueous outflow through the trabecular meshwork. These agents have been shown to reduce IOP by minimizing cellular resistance to aqueous outflow, according to the release.
Fellow investors include Novo A/S, Canaan Partners, Life Science Angels and Atheneos Capital. Lester Kaplan, PhD, a member of Bay City Capital's scientific advisory board and former president for research and development for Allergan, will join Altheos as board chairman. The board will also include Rob Hopfner of Bay City Capital, Peter Bisgaard of Novo A/S and Wende Hutton of Canaan Partners.
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