Altesa BioSciences closes $75 million Series B financing

Atlanta, USA-based clinical-stage pharmaceutical company Altesa BioSciences has announced a $75 million oversubscribed Series B funding round led by Forbion, with participation from French pharma major Sanofi (Euronext: SAN) and Altesa's existing investors, including Medicxi, Pitango, and Atlantic Partners.

"There is nothing 'common' about the common cold for people with chronic lung disease," said Altesa chief executive Dr Brett Giroir, former Assistant Secretary of Health and Acting \food and Drug Administration Commissioner. "This financing supports advancing clinical development of vapendavir for the treatment of rhinovirus infections, the leading cause of respiratory exacerbations in COPD and other chronic lung conditions. Vapendavir targets the cause of inflammation and exacerbations – the virus itself," he added.