US-based biopharmaceutical company Allena Pharmaceuticals has raised $25m in a series B round featuring participation from Pharmstandard International, a holding company of Russia-based pharmaceutical company OJSC Pharmstandard.
The round was led by HBM Partners and also included Frazier Healthcare, Third Rock Ventures and Bessemer Venture Partners. Allena previously raised $15m in a 2011 series A round that featured Bessemer, Frazier and Third Rock.
Allena develops therapies for metabolic and orphan diseases, and has recently launched a Phase 2 trial for its lead product, Alln-177, which treats hyperoxaluria, a serious condition which can lead to chronic kidney disease. The funding will allow the company to advance the drug to Phase 3 trials.
Robert Gallotto, chief operating officer of Allena, said: “We have made tremendous progress since our series A financing, with the completion of a Phase 1 clinical trial, significant patent work to protect our intellectual property and improvements in manufacturing capabilities, all of which resulted in the initiation of a groundbreaking Phase 2 programme.
“Hyperoxaluria is a serious unmet need, and we believe Alln-177 may provide the first safe and effective pharmacological option for patients.”