Altheos, Inc., a South San Francisco, CA-based early-stage biopharmaceutical company focused on the identification and development of small molecule drugs for unmet medical needs, has completed a $20m Series A financing led by Bay City Capital.
New investors Novo A/S, Canaan Partners, Life Science Angels and Atheneos Capital also joined the round.
The new capital will be used primarily for the development of ATS907, a selective Rho-kinase inhibitor Altheos licensed from Japanese pharmaceutical company Asahi Kasei Pharma.
The license also includes a series of highly active compounds (AK138 series) specifically for topical treatment for glaucoma.
In conjunction with the financing, Lester Kaplan, Ph.D., a member of Bay City Capital’s scientific advisory board and former President, Research and Development, and Board Member at Allergan, Inc. will be joining the company’s board as chairman.
The board will be further expanded to include Rob Hopfner of Bay City Capital, Peter Bisgaard of Novo A/S and Wende Hutton of Canaan Partners.