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news.Alder BioPharmaceuticals has closed $38m Series D financing to accelerate the clinical development of its ALD518 and ALD403 antibody therapeutics.
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ALD518 is a monoclonal antibody to the pro-inflammatory cytokine IL-6, which is under Phase 2 development by Bristol-Myers Squibb for autoimmune diseases, and by Alder for cancer-related conditions.
ALD403 is calcitonin gene-related peptide (CGRP) inhibiting antibody therapeutic for treatment of migraine.
Alder BioPharmaceuticals president and chief executive officer Randall Schatzman said the financing will allow to advance ALD403, which targets well-validated biology in treating migraine and has a similar potential as ALD518 to be a significant game-changer in its disease area.
The ALD403 study is likely to begin this month in healthy volunteers, with future studies planned for treatment of patients who experience multiple migraines each month.
The financing will also support studies of earlier stage programs, including a therapeutic targeting PCSK9 for treating dyslipidemia.