Eidos Therapeutics completes $64 Million Financing
April 6, 2018
Rare Daily Staff
Eidos Therapeutics said it completed a $64 million Series B financing, which will be used to advance its oral therapeutic to treat transthyretin amyloidosis, a rare and progressive genetic disease that is fatal.
The financing was led by RA Capital Management and included Eidos’ parent company, BridgeBio Pharma, in addition to new investors Janus Henderson, Viking Global Investors, Aisling Capital, Perceptive Advisors, Cormorant Asset Management and Amzak Health Investors.
Proceeds from the financing will be used to advance Eidos’ small molecule product candidate, AG10, into mid-stage clinical testing and to continue preparations for late-stage clinical trials. AG10 targets ATTR at its source by potently binding and stabilizing TTR tetramers, the destabilized protein that accumulates as amyloid deposits in organs and other tissue throughout the body.
AG10 is an orally-administered, small molecule designed to potently and selectively stabilize tetrameric TTR, halting a series of molecular events that give rise to ATTR. Eidos’ approach mimics a naturally-occurring genetic rescue mutation that protects high-risk individuals from developing ATTR by stabilizing the TTR tetramer.
Eidos said its clinical data demonstrate that AG10 has a safe, well-tolerated profile and is able to stabilize 100 percent of plasma TTR at peak concentrations and provide average levels of stabilization greater than 95 percent at steady-state.
“Given that increasing levels of stabilization have yielded progressively better clinical results in past trials, our near-complete levels of stabilization suggest that AG10 could be a best-in-class solution,” said Neil Kumar, CEO of Eidos. “We are targeting ATTR at its source by stabilizing TTR, an approach that is validated by genetics and clinical data.”
In connection with the financing, both Rajeev Shah, managing director and portfolio manager at RA Capital, and Eric Aguiar, MD, partner at Aisling Capital, will join Neil Kumar and Hoyoung Huh, MD, PhD, on Eidos’ board of directors.
April 6, 2018
Photo: Neil Kumar, CEO of Eidos
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