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Print Edition StoriesMonday, June 8, 2009
Aileron Therapeutics lands $40M in new round
By Mass High Tech staff
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Protein-focused biotech company Aileron Therapeutics Inc. reports it has closed on $40 million in a fourth round of financing that was co-led by new investors SR One Ltd., the corporate venture fund of GlaxoSmithKline (NYSE: GSK), and Excel Medical Fund.
The Series D round also included existing investors Apple Tree Partners — the founding investor of Aileron — and Novartis Venture Fund, Lilly Ventures and Roche Venture Fund.
Aileron is developing therapies using small pieces of a naturally occurring protein, called Stapled Peptides, that restore programmed cell death in multiple myeloma cells. The financing will be used to advance the Cambridge-based company’s lead Stapled Peptide program toward clinical trials in 2010 and to further advance the Stapled Peptide platform.
In addition to its previous $20 million in funding, Aileron has now raised $60 million in total. Joining Aileron’s board of directors is Michael Diem, a partner at SR One, and Enrico Petrillo, managing director of Excel Medical Fund.
Aileron’s Stapled Peptides are based on discoveries made at Harvard University and the Dana-Farber Cancer Institute.
In March, Aileron won a $500,000 grant from The Multiple Myeloma Research Foundation of Norwalk, Conn., for cancer therapy research.
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