Alto Neuroscience bags $25M for four Phase II drugs
Another $25 million is flowing the way of a California biotech attempting to fix the “trial and error” system in neuroscience drug R&D.
Alto Neuroscience picked up the capital from Alpha Wave Ventures via an extension to its Series B, bringing total equity raised to $100 million since the startup’s 2019 founding. The biotech also recently signed up for a $35 million credit facility.
All that capital will help the biotech investigate four drugs through four Phase II readouts, Alto said Monday morning. That means enough money to keep the lights on into 2025, a year longer than projected under the original Series B close.
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