Alethio Therapeutics raised US$90 million (£67 million) in an oversubscribed Series A financing. Sofinnova Partners and RA Capital co-led the round. Oxford Science Enterprises also participated along with Cancer Research Horizons and the University of Oxford.
Use of proceeds
The company will use the money to advance ATX-011 through Phase 1/2a studies in essential thrombocythemia. The financing will also move additional myeloproliferative neoplasm programs toward IND submission. It is intended to bring the lead program to Phase 3 readiness.
Oxford spinoff
Alethio is a spinoff from the University of Oxford. Professors Adam Mead and Beth Psaila founded the company. It develops targeted therapies for myeloproliferative neoplasms, a group of blood cancers.
How ATX-011 works
ATX-011 is a first-in-class monoclonal antibody that targets G6B. G6B appears on platelets, megakaryocytes, and MPN-initiating stem cells but not healthy stem cells. The treatment is designed to normalize platelet counts in essential thrombocythemia.
Preclinical data for ATX-011 have been selected for oral presentation at the American Society of Hematology 2026 Annual Meeting. The company is advancing ATX-011 through IND-enabling studies. It plans to move into clinical development in essential thrombocythemia.