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April 05, 2010
SOUTH SAN FRANCISCO, Calif. - Altheos, Inc., a privately held early-stage biopharmaceutical
company, announced today that it has completed a $20 million Series A financing led by Bay City
Capital. New investors Novo A/S, Canaan Partners, Life Science Angels and Atheneos Capital also
joined the round. The financing will be used primarily for the development of ATS907, a selective
Rho-kinase inhibitor Altheos licensed from Japanese pharmaceutical company Asahi Kasei Pharma. The
license also includes a series of highly active compounds (AK138 series) specifically for topical
treatment for glaucoma.
“No therapeutics based upon new mechanisms-of-action have been approved for glaucoma in 15 years.
ATS907 is in a new class of therapies that may provide a much needed alternative for the growing
aging population who are most afflicted by the disease,” said Henry Hsu, M.D., CEO of Altheos. “The
strong interest in the development candidate ATS907 by top investors is a testament to its
potential as well as those within the AK138 series which Altheos has licensed.”
As part of the financing, Lester Kaplan, Ph.D., a member of Bay City Capital’s scientific advisory
board and former President, Research and Development, and Board Member at Allergan, Inc. will be
joining the company’s board as Chairman. The board will be further expanded to include Rob Hopfner
of Bay City Capital, Peter Bisgaard of Novo A/S and Wende Hutton of Canaan Partners.
“Rho-kinase inhibitors like ATS907 target a new mechanism in glaucoma with the potential to
significantly improve upon control of the disease,” said Dr. Kaplan. “ATS907 and related analogues
were specifically designed to have properties that make it optimal for ocular administration and
with an improved therapeutic index compared to other Rho-kinase inhibitors in development. The
pre-clinical studies indicate important differentiators from existing therapies, both in safety and
efficacy.”
“The market for glaucoma is expected to increase from 60 million people today by nearly 30 percent
to 80 million by 2020,” said Hutton. “We see significant potential for ATS907, as it acts against a
new target in the eye that could prevent further vision loss and unnecessary side effects.”
About Rho-kinase Inhibitors for Glaucoma
Glaucoma is the second leading cause of blindness in the United States. Current drug treatments are
directed towards lowering intraocular pressure to reduce the risk of vision loss. The majority of
patients require more than one drug to control pressure and many are unable to reach treatment
targets on maximum combination therapy. These drugs reduce intraocular pressure by either reducing
the production of aqueous humor, which bathes the anterior portion of the eye, or by increasing its
outflow through the uveal-scleral route, a secondary route of aqueous clearance. Research in the
last decade has identified Rho-kinase as an important mediator of aqueous outflow through the
trabecular meshwork or “conventional” outflow pathway, the primary route of aqueous clearance in
the eye. Inhibitors of this enzyme have been shown to reduce cellular “stiffness” and resistance to
outflow in the trabecular meshwork thereby reducing intraocular pressure. Animal data also shows
that inhibition of Rho-kinase has neuroprotective effects that may be of benefit in glaucoma. There
are currently no Rho-kinase inhibitors on the market for glaucoma.
About Altheos, Inc.
Altheos, Inc. is an early-stage biopharmaceutical company focused on the identification and
development of promising well-differentiated novel small molecule drugs for unmet medical needs.
Altheos, Inc. was co-founded in 2009 by two experienced pharmaceutical drug development executives
and entrepreneurs, Henry H. Hsu, M.D. and M. (Ken) Kengatharan, Ph.D. The company is headquartered
in South San Francisco, California.
Contacts:
Henry Hsu, M.D.
CEO, Altheos, Inc.
650-989-8570
hhsu [@] altheos.com
M. (Ken) Kengatharan, Ph.D.
President and CSO, Altheos, Inc.
650-854-1492
mkengatharan [@] altheos.com
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