Allena Pharmaceuticals Raises $15M in Series A Venture Capital Financing
Allena Pharmaceuticals, Inc., a Newton, Mass.-based company developing and commercializing innovative non-systemic oral protein therapeutics, has secured $15m in Series A venture capital financing.
The company intends to use the funds to accelerate the development of its non-systemic protein therapeutics to treat metabolic and orphan diseases, with a particular focus on nephrologic and urologic conditions.
Co-founded by Alexey Margolin, Ph.D. (CEO), and Robert Gallotto, Allena has pioneered a proven approach enabling the design and development of oral protein therapies that remain in the gastrointestinal tract and are not absorbed into the bloodstream.
In conjunction with the funding, Stephen Kraus, partner, Bessemer Venture Partners, James Topper, M.D., Ph.D., general partner, Frazier Healthcare Ventures, and Robert Tepper, M.D., partner, Third Rock Ventures, will join the company’s boars.