Latigo Biotherapeutics, a U.S.-based biotechnology company has announced the closing of a $150 million Series B investment round.
The round was completed with the participation of Qatar Investment Authority (QIA), to support its efforts in developing non-opioid pain relief treatments.
Blue Owl Capital led the investment round, joined by prominent investors such as Deep Track Capital, Access Biotechnology, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital, along with existing investors including Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments.
The company plans to use the funding to expand its operations and enhance research efforts in innovative pain relief treatments. Latigo Biotherapeutics focuses on directly targeting the source of pain through non-opioid alternatives to traditional painkillers.
Recently, the company announced positive results from Phase 1 clinical trials of its lead candidate, (LTG-001), an oral selective Nav1.8 inhibitor designed to treat acute pain at its source. Initial clinical data showed good tolerance and rapid absorption, reinforcing its potential as a safe and effective treatment option.
