Latigo Biotherapeutics, Inc., a U.S.-based biotechnology company specializing in the development of non-opioid pain therapies, has announced the closing of a $150 million Series B funding round.
The round was led by Blue Owl Capital, with participation from prominent investors, including the Qatar Investment Authority (QIA), Deep Track Capital, Access Biotechnology, Sanofi Ventures, Westlake Village BioPartners, and others.
Founded in 2020, Latigo Biotherapeutics focuses on developing non-opioid pain therapies that target the source of pain directly. The company leverages advanced biotechnologies to create innovative treatments, including LTG-001, a non-opioid treatment for acute pain based on the Nav1.8 sodium channel inhibitor, and LTG-305, a treatment for chronic pain also centered on Nav1.8 technology.
The company recently announced positive results from the Phase I clinical trials of LTG-001, demonstrating good tolerability and rapid absorption in patients. These results bolster the company’s hopes of offering effective and safe pain relief without relying on opioids, which are addictive and contribute to a global health crisis.
The CEO of Latigo Biotherapeutics stated that this funding round represents a significant milestone in the company’s journey to develop innovative pain therapies.
“We are grateful for the investors’ confidence in our vision and our ability to deliver non-opioid pain relief solutions. These funds will help us accelerate our research and development efforts and achieve our goals of providing effective treatments for patients.”He added.
The participation of the Qatar Investment Authority (QIA) in this round underscores its commitment to supporting innovation in biotechnology. This investment aligns with QIA’s strategy to invest in leading companies developing advanced medical solutions.
Latigo Biotherapeutics plans to use the funds from this investment round to expand its research and development operations and accelerate clinical trials for its non-opioid therapies. The company also aims to strengthen partnerships with medical and research institutions to achieve its goals of delivering innovative treatments that improve patients’ quality of life.
