Astria Therapeutics Raises $115 Million in Public Offering to Advance HAE Program
December 21, 2022
Astria Therapeutics sold 10.4 million shares of its common stock at $11.01 per share in an underwritten public offering, before deducting underwriting discounts and commissions and other offering expenses.
Astria is focused on developing life-changing therapies for rare and niche allergic and immunological diseases, will use the proceeds to advance the clinical development of lead candidate STAR-0215 for the treatment of hereditary angioedema.
Hereditary angioedema (HAE) is a rare genetic disorder that causes unpredictable attacks of swelling in the face, limbs, abdomen, and airway. These attacks can be severe, painful, disabling, and potentially life-threatening. HAE is estimated to affect less than 8,000 people in the U.S., and less than 15,000 people in Europe.
Most cases of HAE are caused by insufficient levels of functional C1-inhibitor, a protein that regulates plasma kallikrein, a critical mediator of bradykinin-induced edema. On-demand treatments for HAE can help decrease the severity of an attack as it is occurring, and preventative treatments, taken chronically, can reduce the chance that an attack with occur. However, substantial need remains for effective treatment options with less treatment burden.
STAR-0215 is a monoclonal antibody inhibitor of plasma kallikrein in clinical development for the treatment of hereditary angioedema that is designed to be a long-acting preventative treatment dosed once every 3 months or less frequently, to normalize the lives of people living with HAE by reducing their disease and treatment burden.
Atria reported positive preliminary results from a phase 1a clinical trial of STAR-0215 in healthy subjects in 2022. Based on these preliminary results, the company is also planning to evaluate the potential for 6-month dosing with additional cohorts in the phase 1a trial starting in the first quarter of 2023 with results expected in the fourth quarter of 2023.
Atria is also planning to initiate the ALPHA-STAR phase 1b/2 trial in HAE patients in the first quarter of 2023, with initial results from single and multiple dose cohorts expected in mid-2024.
Author: Rare Daily Staff
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