Backed by Novo and OrbiMed, Thierry Abribat hauls in $75M for biotech #3 — a transatlantic upstart focused on rare diseases
Novo Ventures and OrbiMed have joined a syndicate that is kickstarting a France/US hybrid startup biotech with a pair of drugs aimed at rare diseases.
Alizé Pharma 3 — the third in a series of biotech startups by the same entrepreneur — is building teams in Lyon and Boston as they gear up for clinical work next year with a $75 million A round.
Their work is devoted to AZP-360, a parathyroid hormone (PTH) analog out of Mass General designed to treat hypoparathyroidism. Their other program is for a peptide dubbed AZP-3404 which they hope to use to treat syndromes of severe insulin resistance — a series of ultra-rare diseases.
The original research for 3404 was completed at the University of North Carolina at Chapel Hill and the University of Maine.
This company marks the third upstart operation for Thierry Abribat. The first company centered on endocrine diseases and was sold to Millendo in 2017. The second went to Jazz in 2016 for €18 million, including an upfront payment of €8 million.
Abribat says the plan is to build “a leading rare disease company specialized in endocrinology and metabolism.”
LSP led the round with contributions from Novo Ventures, Kurma Partners, OrbiMed, Pontifax, Partners Innovation Fund and Innobio 2 (managed by Bpifrance). Existing shareholders Sham Innovation Santé/Turenne Capital, Crédit Agricole Création and TAB Consulting also jumped in.