Alto Neuroscience, a Los Altos, CA-based neuro-tech company which specializes in precision psychiatry, raises $35M Series B Financing.
The round was led by Lightswitch Capital and Alkeon Capital, with participation from Sobrato Capital, Novartis Pharma AG, Valor Equity Partners, Korify Capital, Vine Ventures, Gaingels, Apeiron Group, WhatIf Ventures, and Windham Venture Partners.
In conjunction with the Series B financing, chief executive officer of Lightswitch Capital, Christopher Cox, and managing director of Alkeon Capital, Jeff Chen, Ph.D., have joined the Alto Board of Directors. Additionally, Bob Baloh, M.D., Ph.D., global head of neuroscience at the Novartis Institutes for BioMedical Research (NIBR), will join as a board observer.
The company intends to use the funds to advance lead candidates into Phase 2b studies in major depressive disorder in addition to continued development on other programs within its clinical-stage precision psychiatry pipeline. Proceeds from the financing will also be used to progress the company’s artificial intelligence-enabled brain biomarker platform and launch new clinical trials in areas of high unmet medical need. Alto will report Phase 2a data in early 2023 and further anticipates Phase 2b data readouts by early 2024.
Led by Amit Etkin, M.D., Ph.D., founder and chief executive officer, Alto Neuroscience provides a precision psychiatry by developing targeted medicines to help patients get better. Differences in individuals’ biology impact how they respond to treatment. Its Precision Psychiatry Platform measures brain biomarkers by analyzing EEG activity, behavioral task performance, wearable data, genetics, and other factors to match each patient with the right Alto drug. The company’s clinical-stage pipeline includes novel drug candidates in depression, PTSD, and other mental health conditions, resulting in the broadest and most-advanced precision psychiatry effort.
FinSMEs
26/10/2022