Alba Therapeutics closes on $30 million series A funding

New York, Aug. 23 - Alba Therapeutics Corp. said it completed a $30 million series A financing.

SV Life Sciences and Alta Partners were the lead investors. Other participants were HealthCap, Red Abbey Venture Partners and the Maryland Venture Fund. Also involved were existing investors Esperance BioVentures, Astellas Ventures, Maryland Tedco, and Townsend Capital.

"This financing brings together an international group of investors committed to advancing the company's lead product candidate, AT-1001, through proof of concept in humans," said Lutz Giebel, venture partner of SV Life Sciences, in a news release. "The company has made outstanding progress in the last 12 months and has met or exceeded all of its development milestones."

Baltimore-based Alba is a biopharmaceutical company focused on zonulin pathway modulation. Its lead product, AT-1001, is aimed at celiac disease and type 1 diabetes and is in the final stages of pre-human testing.

"This financing supports the vast potential of the zonulin pathway, both for the delivery of drugs and vaccines, and for the treatment of disease states characterized by inappropriate permeability. The latter includes a significant number of acute and chronic inflammatory and immune conditions, such as celiac disease and type 1 diabetes," said Blake M. Paterson, co-founder of Alba and chief executive officer, in a news release.

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