Alto Neuroscience, a Los Altos, CA-based mental health company, raised $45M in Series C funding.
The round was led by InVivium Capital, with participation from additional new investors Franklin Templeton, Point72, Eli Lilly and Company, and Alexandria Venture Investments. Existing investors Alpha Wave Ventures, Lightswitch Capital, partners of Alkeon Capital, WhatIf Ventures, and Windham Venture Partners also participated.
In conjunction with the Series C financing, Michael Liang, Ph.D., managing director of InVivium Capital, joined the Alto board of directors. Additionally, Eli Lilly and Company has appointed a board observer.
The company intends to use the funds for ongoing and planned clinical development of its late-stage CNS product candidates with four placebo-controlled Phase 2 clinical trial readouts expected by early 2025.
Led by CEO Amit Etkin, M.D., Ph.D., founder and chief executive officer, Alto Neuroscience offers precision psychiatry by developing targeted medicines designed to help patients get better faster. Its Precision Psychiatry Platform™ measures brain biomarkers by analyzing EEG activity, neurocognitive task performance, wearable data, and other factors to match each patient with the right Alto product candidate. The company’s work in validating brain-based biomarkers has resulted in a multiple modality approach that supports robust drug-response predictions. Alto’s clinical-stage pipeline includes novel drug candidates in depression, PTSD, schizophrenia, and other mental health condition. Based on the pharmacodynamic effects observed in humans, Alto is also planning to advance ALTO-101 and ALTO-203 into Phase 2 proof-of-concept trials with expected data readouts in late 2024 through the first half of 2025.
FinSMEs
21/11/2023