Startup Atavistik Adds $40M for Clinical Trial in Rare Bleeding Disorder With No Approved Therapies - MedCity News
Atavistik Bio has secured an additional $40 million in funding to advance its drug candidate, ATV-1601, for treating hereditary hemorrhagic telangiectasia (HHT), a rare bleeding disorder with no FDA-approved therapies. The funding will also support the development of a treatment for myeloproliferative neoplasms, a group of rare blood cancers.
Atavistik Bio's recent $40 million Series B extension, bringing their total funding to $160 million, highlights a significant opportunity for investors interested in healthtech and biotech. With its focus on developing a novel, selective AKT1 inhibitor for hereditary hemorrhagic telangiectasia (HHT), a condition with no current FDA-approved therapies, Atavistik is poised to lead in a niche market, potentially offering high returns on investment. Their use of AI and machine learning in drug discovery further underscores their innovative approach within the biotech sector.