Latest news with #AllayTherapeutics
Business Times
4 days ago
- Business
- Business Times
Lightstone Ventures, Temasek's ClavystBio co-lead Allay Therapeutics' US$57.5 million Series D funding
[SINGAPORE] United States-based biotechnology company Allay Therapeutics on Thursday (Jun 5) announced it has raised US$57.5 million in a Series D financing round, co-led by biotech venture capital (VC) firm Lightstone Ventures and ClavystBio, a Temasek-linked life sciences venture builder. Participants in the round include the following existing investors: New Enterprise Associates, a US-based VC company; healthcare VC firm Arboretum Ventures; Temasek unit Vertex Holdings' growth-stage VC fund Vertex Growth; Vertex's healthcare fund Vertex Ventures Healthcare; and Australian life sciences VC firm Brandon Capital. New investors who joined the round were US VC firm IPD Capital; Singapore government-backed deep tech investor SGInnovate; as well as EDBI, which operates under SG Growth Capital, the investment platform of the Singapore Economic Development Board and Enterprise Singapore. Drug manufacturer Maruishi Pharmaceutical has expanded its license agreement with Allay Therapeutics to include South Korea and Taiwan, in addition to Japan. As part of this agreement, Maruishi also participated in the Series D round. Meanwhile, HSBC Innovation Banking, which focuses on banking solutions for start-ups, investors and pre-initial public offering companies, also provided additional venture debt financing to Allay Therapeutics. Founded in 2017, Allay Therapeutics, which was incubated by Lightstone Ventures' Singapore fund and The Foundry, focuses on pain relief. BT in your inbox Start and end each day with the latest news stories and analyses delivered straight to your inbox. Sign Up Sign Up Its technology is used to create analgesic products that can aid patients with post-surgical pain management and recuperation, reducing the need for opoids and improving patient recovery. The company has teams in the US and Singapore. Funds from the Series D round will support the company's registration trial, which started in February this year and involves 200 participants in multiple US sites. The trial evaluates its product for the treatment of pain after total knee replacement surgery. Results from the trial will be available in the third quarter of 2025.
Yahoo
18-02-2025
- Business
- Yahoo
Allay Therapeutics Announces First Patients Dosed in Pivotal Phase 2b Registration Trial of ATX101 for Post-Surgical Pain Management After Knee Replacement Surgery
ATX101 is designed to provide extended pain relief after surgery, reducing the need for opioids and improving patient recovery Phase 2b registration trial is assessing the efficacy and safety of ATX101 for post-surgical pain management in total knee replacement patients and is currently enrolling across U.S. clinical sites Maruishi Pharmaceutical, Allay's partner in Japan also has enrolled first several patients in Phase I/II open-label study SAN JOSE, Calif., February 18, 2025--(BUSINESS WIRE)--Allay Therapeutics, a clinical-stage biotechnology company pioneering ultra-sustained analgesic products to transform post-surgical pain management and recuperation, today announced that the first patient has been dosed in its Phase 2b registration trial evaluating ATX101 for the treatment of post-surgical pain following total knee replacement (TKA) surgery. ATX101 is a novel investigational analgesic that provides extended pain relief after surgery, reducing the need for opioids and improving patient recovery. "We're thrilled to achieve this important milestone with the patients dosed in our Phase 2b registration trial of ATX101," said David Hewitt, Chief Medical Officer at Allay Therapeutics. "This trial is a significant step forward on our path to changing the paradigm of postoperative pain management by providing a simplified locally targeted solution that provides sustained analgesia in the weeks following surgeries. Building on promising data from our earlier dose-ranging studies, we are excited to see how ATX101 can help improve patient outcomes, reduce opioid use and improve function more rapidly than currently available therapies." The Phase 2b registration trial of 200 participants undergoing total knee arthroplasty (replacement, or TKA surgery) is being conducted at multiple U.S. sites and is a three-arm, randomized, controlled study evaluating treatment with ATX101 1,500 mg versus placebo and bupivacaine active comparator. A prior dose-ranging Phase 2b trial achieved clinically meaningful durable treatment effects with ATX101 versus standard-of-care bupivacaine based on pain intensity out to four weeks, with less use of opioids and meaningful improvement in functional activities up to 60 days following surgery. Allay Therapeutics' Japanese partner Maruishi Pharmaceutical has also dosed the first patient in January in a Phase I/II multi-center open-label safety study of ATX101 in Japan. Initial clinical data from both studies is expected to be shared in the second half of 2025. About ATX101 ATX101 is a novel investigational configuration of an approved, well-characterized, validated intracellular sodium ion channel blocker, bupivacaine, and a biopolymer that has been designed to provide weeks of pain relief following total knee arthroplasty (TKA, or replacement), a common orthopedic surgery. ATX101 has a high density of drug within its small footprint to allow for ultra-sustained analgesia. It is placed in minutes at the end of standard surgery to deliver its analgesic effect over weeks before eventually dissolving into water and carbon dioxide. The simple procedure does not require specialized training and is intended to replace the existing complex mix of analgesic products used for shorter-term pain management in the post-surgical setting. ATX101 is an investigational product that has not been approved by the U.S. Food and Drug Administration. About Allay Therapeutics Allay Therapeutics is pioneering ultra-sustained analgesic products to transform post-surgical pain management and recuperation for patients and physicians. Our proprietary technology platform combines validated non-opioid analgesics and biopolymers to create dissolvable candidates to deliver pain relief within a targeted site over weeks: an order of magnitude greater than the longest-lasting pain treatments currently available. Our platform and vision were shaped by The Foundry incubator and Lightstone Venture's Singapore Fund. Allay unites a dynamic, global team of entrepreneurs, scientists, clinicians and innovators in the San Francisco Bay Area and Singapore. Learn more at View source version on Contacts For further details, please contact: Investors Adam Media allay@
