Aerovate Therapeutics Emerges From RA Capital Incubator
AUGUST 6, 2020
AEROVATE THERAPEUTICS EMERGES FROM RA CAPITAL INCUBATOR WITH $72.6 MILLION FUNDING FOR POTENTIAL DISEASE-MODIFYING PULMONARY ARTERIAL HYPERTENSION THERAPY
AV-101 is a Proprietary Inhaled Version of Imatinib, Which Has Proven Efficacy Treating PAH; Aerovate Was Founded and Seeded by RA Capital Management; Series A is Led by Sofinnova Investments; Includes New Investors Atlas Venture, Cormorant Asset Management, Surveyor Capital and Osage University Partners
BOSTON (August 6, 2020) – Aerovate Therapeutics, Inc., has closed on $72.6 million in Series A funding to advance trials of AV-101, an inhaled, dry powder aerosol version of imatinib to treat pulmonary arterial hypertension (PAH). An oral version of imatinib showed significant efficacy in a phase 3 trial as a disease-modifying therapy for PAH, but it was poorly tolerated by PAH patients because of systemic side effects.
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