University of Washington spinout AltPep will use the money to advance work on its lead asset that targets Alzheimer’s disease.
AltPep, a US-based misfolded protein treatment and diagnostics spinout of University of Washington (UW), has closed a $23.1m series A round led by Matrix Capital Management.
Alexandria Venture Investments, the strategic investment division of life sciences real estate investment trust Alexandria Real Estate Equities, also backed the round.
Founded in 2018, AltPep is working on drug treatments and diagnostic tools for central nervous system diseases triggered by misfolded amyloid proteins.
Valorie Daggett, a professor in UW’s Department of Bioengineering, was responsible for spearheading its foundational research, and is now leading the company as chief executive.
The capital will allow AltPep to progress its main research programme, which focuses on early diagnosis and drug treatments for Alzheimer’s disease, as well as the rest of its preclinical pipeline.
Joel Marcus, executive chairman and founder of Alexandria Real Estate Equities, has joined the board of directors along with…
