Aileron Therapeutics, a US-based biopharmaceutical company that is developing therapeutics based on its stapled peptide drug platform, has secured $30m in series E equity financing from existing investors including Roche Venture Fund, the corporate venturing unit of Switzerland-based Roche, Novartis Venture Funds, the corporate venturing unit of Switzerland-based pharmaceutical company Novartis, Lilly Ventures, the corporate venturing affiliate of US-based pharmaceutical company Eli Lilly and Company, SR One, the corporate venturing division of pharmaceutical company GlaxoSmithKline, and venture capital firms Apple Tree Partners and Excel Venture Management.
Proceeds from the financing will be used to advance Aileron’s pipeline of clinical candidates as well as advance further platform development.
In conjunction with the financing, Scott Kapnick, chief executive officer of alternative investment firm Highbridge Capital Management, will become Chairman of the Board.
Joseph Yanchik, president and chief executive officer of Aileron Therapeutics, said: “Aileron is distinguished as a biotechnology company in our unique ability to translate this novel Stapled Peptide science into drug candidates, and we are honored to have a dedicated syndicate of investors, including four of the top global pharmaceutical companies, who continue to provide very substantial support for our efforts.”