Latigo Biotherapeutics, a clinical-stage biotech innovator focused on non-opioid pain relief, has successfully raised $150 million in Series B funding. The company aims to fast-track its breakthrough pipeline of pain therapies designed to target pain at its source — without the risks of addiction.
This significant funding round, led by Blue Owl Capital, attracted strong backing from a robust group of investors. Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital all joined in. Existing supporters, including Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments, also doubled down on their commitment to Latigo’s mission.
Powering Next-Gen Pain Relief: Advancing Nav1.8 Inhibitor Programs
The fresh capital will primarily fuel Latigo’s clinical development of highly selective Nav1.8 inhibitors—a new class of oral pain therapies designed to treat both acute and chronic pain without opioids.
Speaking on the funding milestone, Nima Farzan, CEO of Latigo Biotherapeutics, highlighted the growing urgency for safer pain relief alternatives.
“With opioid addiction still a public health crisis, the demand for non-addictive pain treatments has never been greater,” Farzan noted. “This investment accelerates our mission to develop best-in-class pain medicines that could reshape the treatment landscape.”
Strategic Leadership Boost as Blue Owl’s Kevin Raidy Joins the Board
In line with the financing, Kevin Raidy, Senior Managing Director at Blue Owl Capital, has been appointed to Latigo’s Board of Directors. His expertise in life sciences and strategic growth is expected to play a pivotal role in scaling Latigo’s operations.
“Pain management desperately needs innovation beyond opioids,” Raidy shared. “Latigo is uniquely positioned to deliver non-addictive therapies that truly impact patients’ lives.”
Board Chair Timothy P. Walbert welcomed Raidy, stating, “Kevin’s industry experience will be invaluable as we advance our promising pipeline of non-opioid pain treatments.”
Inside Latigo’s Clinical Pipeline: A Closer Look at LTG-001 and LTG-305
Latigo’s cutting-edge research centers around two promising Nav1.8 inhibitors, both already showing encouraging clinical progress:
LTG-001: Targeting Acute Pain at the Source
The company’s lead candidate, LTG-001, is an oral Nav1.8 inhibitor aimed at treating acute pain. Recent Phase 1 trial results demonstrated the drug’s strong safety profile, with rapid absorption and good tolerability in human subjects.
LTG-305: A Potential Game-Changer for Chronic Pain
Currently in Phase 1 clinical trials, LTG-305 is being developed for chronic pain management. The trial focuses on assessing safety, tolerability, and how the drug behaves in the body through both single- and multiple-dose studies in healthy volunteers.
Paving the Way for a Non-Opioid Future in Pain Management
With this $150 million boost, Latigo Biotherapeutics is well-positioned to revolutionize the pain treatment space. As opioid-related deaths and addiction rates continue to rise, the biotech’s innovative Nav1.8 inhibitors offer hope for millions suffering from chronic and acute pain—without the risks of dependency.
Latigo’s mission is clear: Deliver effective, non-addictive pain relief that empowers patients and reduces reliance on opioids.
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