Business · Companies · 4 hrs ago
Altay Therapeutics raises $37 million to advance FSHD drug
Altay Therapeutics raised US$37 million in a Series A financing to advance a potential treatment for facioscapulohumeral muscular dystrophy, or FSHD.
The company is a portfolio company of SOLVE FSHD, a venture-philanthropy organization focused on accelerating treatments for the disease.
The funding will support DX5057, an experimental oral drug that inhibits DUX4.
Altay plans to take the drug through Phase 1 development and then a Phase 2 proof-of-concept trial in people with FSHD.
The planned trial will test the drug in people with FSHD, but the financing announcement gives no results from patient testing.
Investors co-leading the financing were Sound Bioventures and HealthCap, with several other investors also taking part.
The next stated step is Phase 1 development, followed by the planned Phase 2 trial and support for Altay’s drug-discovery platform.
Altay Therapeutics closed a US$37 million Series A financing to advance its investigational FSHD drug DX5057.
The financing was co-led by Sound Bioventures and HealthCap, with four other participants.
Altay plans to take DX5057 through Phase 1 development and a Phase 2 proof-of-concept trial in people with FSHD.
The company also plans to support its proprietary drug-discovery platform.
SOLVE FSHD said it began supporting Altay in 2022, after the company had received nearly US$7 million in seed investment.
- Who
- Altay Therapeutics, a portfolio company of SOLVE FSHD.
- What
- It closed a US$37 million Series A financing to advance DX5057 and support its drug-discovery platform.
- When
- October 14, 2026, according to the article’s publication date.
- Where
- Not stated.
- Why
- To advance DX5057, an investigational oral inhibitor of DUX4, through Phase 1 and a Phase 2 proof-of-concept trial in people with FSHD.
This story does not have two clearly opposing sides.
SOLVE FSHD began supporting Altay Therapeutics.
Altay had received nearly US$7 million in seed investment.
Altay announced the closing of its US$37 million Series A financing.
- Series A financing
- US$37 million
- Drug candidate
- DX5057, an investigational oral inhibitor of DUX4
- Planned trials
- Phase 1 development and a Phase 2 proof-of-concept trial
- Lead investors
- Sound Bioventures and HealthCap
- Other participating investors
- Fountain Healthcare Partners, Biogen New Ventures, Pappas Capital and Global BioAccess Fund
- SOLVE FSHD support
- Began in 2022