AltPep, a US-based developer of misfolded protein treatment and diagnostics technology, has closed a $23.1m series A round featuring life sciences real estate investment trust Alexandria Real Estate Equities (AREE).
The round was led by investment management firm Matrix Capital Management while AREE participated through its venture capital arm, Alexandria Venture Investments.
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 University of Washington’s Department of Bioengineering, was responsible for spearheading the company’s foundational research, and is now leading it 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 company’s board of directors along with David Goel, managing general partner and founder of Matrix Capital Management.
The original version of this article appeared on our sister site, Global University Venturing.