Allena Pharmaceuticals, Inc., a Newton, Mass.-based specialty biopharmaceutical company, completed a $25m Series B financing.
The round was led by HBM Partners, with participation from existing investors Frazier Healthcare, Third Rock Ventures, Bessemer Venture Partners and new investor Pharmstandard International. In conjunction with the financing, Axel Bolte, investment advisor at HBM, will join Allena’s board of directors.
Led by Alexey Margolin, co-founder, president and chief executive officer, and Robert Gallotto, chief operating officer, Allena Pharmaceuticals focuses on developing and commercializing non-systemic protein therapeutics to treat metabolic and orphan diseases.
The company, which has raised a total of $43m in private financing to date, intends to use the funds to advance ALLN-177, its lead program for the treatment of hyperoxaluria, into Phase 3 development, to explore its use in additional indications such as oxalate nephropathy and primary hyperoxaluria, and bring forward new products based on its non-systemic oral protein therapeutic platform.