AltPep is a biotechnology company developing early disease‑modifying treatments (SOBIN therapeutics) and blood‑based detection tools (SOBA diagnostics) that selectively target toxic soluble oligomers. Its lead programs focus on Alzheimer’s and Parkinson’s diseases, with other amyloid diseases on the horizon. The company’s customized synthetic peptides are designed to both detect and neutralize toxic oligomers throughout disease progression. AltPep reports recent preclinical in vivo data showing improvement in cognitive deficits with its lead Alzheimer’s compound. SOBA, its first diagnostic, has received FDA Breakthrough Device Designation and is being advanced toward FDA clearance. Proceeds from the recent financing will primarily accelerate SOBIN into Phase 1 clinical trials for both Alzheimer’s and Parkinson’s diseases and further develop the SOBA assay. AltPep is a University of Washington spinout developing blood diagnostics and peptide‑based therapeutics aimed at detecting and treating early-stage Alzheimer’s and Parkinson’s disease. Its lead diagnostic, SOBA‑AD, detects soluble oligomers of Amyloid‑beta in blood and recently received FDA "breakthrough device" designation. The company is developing a kit for the test and is discussing partnerships with large diagnostic companies; its tests are being used in preclinical studies for AltPep’s therapeutic candidates and would ideally be approved before future clinical trials. AltPep’s therapeutic approach uses matching peptides that bind alpha‑sheet structures in toxic oligomers to intervene at the earliest molecular triggers of pathology. Financially, AltPep previously raised $23.1 million in a January 2021 Series A led by Matrix Capital Investment and, according to a recent regulatory filing, has raised $44.4 million. The Seattle‑based, roughly three‑year‑old company has 25 employees, has hired a chief medical officer, and is actively hiring. AltPep is a privately held biomedical company focused on diagnosing and treating central nervous system (CNS) amyloid disorders, starting with Alzheimer's Disease. Its platform technology targets misfolded forms of amyloid proteins and was developed in the University of Washington laboratory of founder and CEO Valerie Daggett, Ph.D. The company says the platform has the potential to transform diagnosis and treatment of Alzheimer's Disease and other CNS-mediated disorders. AltPep is based in Seattle, WA. In a financial update, AltPep closed a $23.150 million Series A investment round led by Matrix Capital Management with significant participation from Alexandria Venture Investments.

Total raised

$120M

Funding rounds

3

Latest round

Series B

Latest activity

Jun 2023