- Ashvattha receives additional financing up to $50 million with new lead investor Tribe Capital and existing investors led by Natural Capital
- Ashvattha’s at-home monthly subcutaneously-administered HDT (hydroxyl dendrimer therapeutic) for neovascular (wet) age-related macular degeneration (wet AMD) and diabetic macula edema (DME) demonstrated substantial reduction in treatment burden
- Interim Phase 2 trial results to be presented by Principal Investigator, Dr. Michael Singer, at Angiogenesis 2025 meeting
REDWOOD CITY, Calif., Jan. 13, 2025 (GLOBE NEWSWIRE) -- Ashvattha Therapeutics (“Ashvattha”), a clinical-stage company advancing a new class of nanomedicine therapeutics that traverse tissue barriers to selectively target and reprogram activated cells in regions of inflammation, today announced additional financing as an extension of its Series B of up to $50 million led by Tribe Capital with existing investors led by Natural Capital. The funding will enable Ashvattha to complete the ongoing Phase 2 ophthalmology trial and Phase 1/2 neuroinflammation trial.
“We believe Ashvattha is a broad platform for HDTs to target and reprogram activated innate immune cells in the human body. These cells are implicated in inflammation, cancer, heart disease, aging disorders, autoimmune and neurological diseases. Built on over twenty years of work at Johns Hopkins, with four safety studies and three Phase 2a trials under the belt, we believe the platform of over one hundred HDTs has reached a point where we can see its impact on the human population in the next few years,” said Arjun Sethi, Chief Investment Officer of Tribe Capital.
The ongoing Phase 2 study in wet AMD and DME subjects is evaluating the novel, proprietary nanomedicine, migaldendranib (MGB; D-4517.2), which is subcutaneously administered every 2 or 4 weeks for up to 40 weeks after a single intravitreal injection of aflibercept (2 mg). For subjects completing 24 weeks, there has been a substantial reduction in need for supplemental aflibercept compared to 24 weeks prior to enrollment. Maintenance of visual acuity and sustained reductions in subretinal fluid have been observed with an excellent safety profile to date. The interim results will be presented at the Angiogenesis meeting on February 8, 2025.
“These interim results validate our novel approach of developing an at-home subcutaneous injection to treats both eyes in patients with bilateral disease from a single administration,” said Jeff Cleland, Ph.D., CEO of Ashvattha Therapeutics. “Unlike all other clinical stage approaches, we have demonstrated a benefit to patients with bilateral disease with a well-tolerated systemic therapy. Over 40% of wet AMD and over 90% of DME subjects in our trial had bilateral disease that would require both eyes to receive injections of current products or clinical candidates. We look forward to sharing detailed results at upcoming medical conferences in 2025.”
About Ashvattha Therapeutics
Ashvattha Therapeutics is advancing a new class of clinical-stage nanomedicine therapeutics that traverse tissue barriers to selectively target and reprogram activated cells only in regions of inflammation. Our targeted nanomedicine approach seeks to redefine precision medicine, empowering a new standard of care across ophthalmology, neurology, and inflammation. Ashvattha Therapeutics was founded by Kannan Rangaramanujam, Sujatha Kannan, and Jeff Cleland and incubated by Natural Capital. For more information, visit: www.avttx.com
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