Pharma, Startups

Aileron Therapeutics closes $33M to launch clinical trials for solid tumor drug

A new class of cancer drugs called “stapled peptides” has attracted a nice chunk of venture […]

A new class of cancer drugs called “stapled peptides” has attracted a nice chunk of venture dollars. Cambridge biotech Aileron Therapeutics – the prime player in this space – just secured $33 million in investment, bringing its total Series E round up to $48 million.

The funding will bring Aileron candidate ALRN-6924 – a drug that works to activate a solid tumor suppressor protein called p53 – to clinical trial. The company says its stapled peptides lock peptides in their most biologically effective shape, allowing proteins found in the body already behave like drugs.

“The ability to target and regulate these control points affords the unique opportunity to exploit potentially thousands of well characterized, yet currently ‘undruggable’ cellular targets with applications in all human diseases,” Aileron says. Here’s a fun diagram:

Three new investors are involved here – AJU IB Investment Co., and two undisclosed private investment groups. It’s also got further funding from Apple Tree Partners, Excel Venture Management, Lilly Ventures, Novartis Venture Funds, Roche Venture Fund and SR One.

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