Sponsored
Some exciting news to come out of the pharmaceutical world—a private drug company called Latigo Biotherapeutics has secured $150 in Series B funding to continue developing a new non-opioid pain med. Led by Blue Owl Capital, but also backed by several other investors like 5AM Ventures and Foresite Capital, they plan on using the funds to support the late stages of their clinical trials for LTG-001, which is Latigo’s lead candidate in the trials.
It targets the NaV1.8 ion channel to help relieve pain without any of the addictive risks of opioids.
These NaV1.8-based drugs, much like the recently approved Journavx, may bring the promise of a safe alternative in the pain relief market. Sure, there is already competition out there, but Latigo still sees potential for its treatment, and they’ve carved out a niche specifically by providing opioid alternatives in order to gain support through federal Medicare policies.
LTG-001 is right now in its second phase of trials for acute pain following wisdom teeth removal, but those results won’t be released until later this year. Some additional tests of the medication’s pain relief potential following other surgical procedures, including tummy tucks and foot surgeries, will be released later in the year as well.
In addition to LTG-001, Latigo is developing two more NaV1-8-targeting drugs for chronic pain. These are LTG-305 and LTG-321. The funds they’ve just secured will ensure that they will be financially stable enough to continue their studies until at least next year, which is a good thing since that’s when the most pertinent data will be released.
They aren’t in a rush to go public, though. Even though biotech IPOs have become more challenging due to market downturns, Latigo is playing the slow game and waiting for the most favorable market to come about.
If LTG-001 is approved, they will be in direct competition with Journavx, which has already gained some traction with insurers. They’re trying to differentiate themselves, however, by offering a faster-acting and broader-reaching pain relief solution without recourse to potentially dangerous prescription opioids.
