Led · Series A · Feb 2023

Olatec Therapeutics is a Phase 2/3 clinical-stage biopharmaceutical company developing a platform of oral NLRP3 inhibitors to treat and prevent a broad spectrum of acute and chronic inflammatory diseases. Its lead compound, dapansutrile (OLT1177), is an investigational small molecule that specifically blocks NLRP3 and has been reported as well tolerated with observed clinical improvements in acute gout flare and heart failure. The company’s proprietary program includes approximately 60 OLT analogues being screened as potential drug candidates and a portfolio of more than 130 granted patents covering dapansutrile and the analogues. Olatec describes a drug development team with extensive translational medicine and inflammation expertise and involvement in discovery and development of first-line inflammation treatments. The company says it will use financing proceeds principally to advance dapansutrile into later-stage clinical development. The press release announcing the financing was issued from New York.