Waltham, Massachusetts-based Avilar Therapeutics announced its launch with $60 million in seed financing from founding investor RA Capital Management. The company is pioneering extracellular protein degradation, with a platform that enables the creation of novel degraders called ATACs, or ASGPR Targeting Chimeras, to treat a wide range of diseases. Proceeds from the financing will go towards developing Avilar’s ATAC degrader platform and to systematically apply this platform to create a pipeline of ATAC therapeutics.
“We believe the universe of extracellular proteins represents the next frontier in protein degradation and we are excited to launch Avilar as a pioneer company in this new space,” said Daniel Grau, CEO and President of Avilar Therapeutics. “Avilar has demonstrated in vivo proof-of-concept of ATAC-mediated protein degradation in both rodent and nonhuman primate studies, and we look forward to advancing ATACs as novel medicines to degrade proteins involved in the pathogenesis of a wide range of human diseases.”
Designed as bi-functional molecules, ATACs are comprised of a ligand that binds to a target protein, conjugated to a second ligand that binds to lectins ca...
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