Aileron Scores $40M in Financing to Advance Preclinical Stapled Peptides
Company expects to begin clinical testing in 2010.!--h2>
Aileron Therapeutics completed a series D financing deal worth $40 million. The company says that the funding will help move the lead candidate from its stapled peptides program into clinical trials next year. It will also be used to expand the platform in oncology, immunity and inflammation, metabolic disorders, and infectious diseases.
Glaxosmithkline's investment wing, SR One, and Excel Medical fund co-led the financing round. Contributions also came from Lilly Ventures, Roche Venture Fund, Apple Tree Partners, and Novartis Venture Fund. Previous rounds of financing netted the company $20 million.
"We believe that stapled peptides could represent a 'fourth estate' in therapeutics, emerging as a major class akin to small molecules, antibodies, and vaccines," says Michael Diem, M.D., partner at SR One.