Allergen Research Corporation (ARC), a San Mateo, CA-based biopharmaceutical company developing desensitization treatments for food allergies, completed an $80m Series B financing.
The round was led by Foresite Capital with participation from existing investor Longitude Capital and new investors Fidelity Management & Research Company, Aisling Capital, Adage Capital, RA Capital Management and Palo Alto Investors. In association with the financing, Jim Tananbaum, MD, CEO and managing director of Foresite Capital, and Stacey Seltzer, partner at Aisling Capital, joined ARC’s board of directors.
The company intends to use the funds for the upcoming Phase 3 clinical trial of its lead product, AR 101 and to begin clinical trials for treatment of egg and milk allergies in the coming year.
Founded in 2011 and led by CEO Stephen Dilly, MBBS, PhD, Allergen Research Corporation (ARC) develops treatments for food allergies using characterized oral desensitization immunotherapy (CODIT™), its proprietary approach to oral immunotherapy (OIT).
CODIT combines standardized, pharmaceutical-grade food allergens with controlled up-dosing protocols to desensitize patients and increase the thresholds at which they could experience allergic reactions. ARC recently completed a successful Phase 2 study of its lead product, AR 101, a standardized, pharmaceutical-grade peanut protein formulation for the treatment of peanut allergy, one of the most common food allergies. ARC is also developing CODIT for other common food allergies, including egg and milk.