Alnara Pharmaceuticals secured $35 million in Series B venture capital financing. The money will help the firm expand commercialization efforts in the pancreatic enzyme replacement therapy (PERT) market as it prepares for an NDA submission in this area.
Alnara expects to file for approval of liprotamase, a nonporcine PERT, in the first quarter. Proceeds from the financing will be used to advance the regulatory filings, commercial planning, and launch-preparation efforts in support of liprotamase.
Alnara believes liprotamase may have the potential to overcome the challenges and issues associated with currently available therapies by reducing pill burden, providing a formulation for patients unable to swallow capsules, and removing the risk for viral contamination. The compound has been designed along with Cystic Fibrosis Foundation Therapeutics to treat maldigestion, malabsorption, and malnutrition as a result of exocrine pancreatic insufficiency associated with cystic fibrosis, chronic pancreatitis, pancreatic cancer, pancreatectomy, and other pancreatic diseases.
As its only clinical candidate, the company will also use some of the financing to finalize development of a pediatric formulation of liprotamase and to progress its preclinical programs.
The round was led by new investor MPM Capital and joined by current investors Third Rock Ventures, Frazier Healthcare, and Bessemer Venture Partners. In conjunction with the MPM investment, managing director, Ashley Dombkowski, Ph.D., will join Alnara’s board of directors.