• Latigo Biotherapeutics raised USD 150M in Series B funding, led by Blue Owl Capital, with participation from QIA and other major investors.
• The funding will accelerate clinical development of Latigo’s selective Nav1.8 inhibitors for non-opioid pain treatment and expand its drug pipeline.
• Latigo Biotherapeutics develops innovative, non-opioid pain treatments, while QIA, a sovereign wealth fund, invests across diverse markets for long-term returns.

Latigo 

What happened? Latigo Biotherapeutics closed USD 150 million in a series B funding round. The round was led by Blue Owl Capital with participation from many other investors. Most notably, the Qatar Investment Authority (QIA) participated in this funding round.

Kevin Raidy, Senior Managing Director at Blue Owl Capital said,  “The field of pain management is long overdue for innovation beyond opioids, and we believe Latigo is well-positioned to advance novel, non-addictive treatments that could make a real difference for patients.” 

Furthermore, other participants included Deep Track Capital, Access Biotechnology, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital. In addition to existing investors such as Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments 

Pain Treatment

What will they do with the funding? With the new capital,  Latigo aims to support the advancement of the company’s highly selective Nav1.8 inhibitors currently in clinical development for the non-opioid treatment of pain. In addition to supporting the development of Latigo’s broader pipeline. 

“The need for non-opioid pain treatments has never been more urgent, and this financing allows us to accelerate the development of our robust portfolio of pain medicines that have the potential to transform the treatment landscape,” said Nima Farzan, chief executive officer of Latigo Biotherapeutics.

Who are they? Latigo Biotherapeutics is a clinical stage biotechnology company developing non-opioid pain treatments that aim to target pain at its source.

The Qatar Investment Authority (QIA) is a sovereign wealth fund aiming to invest and generate returns for future stakeholders. Furthermore, it invests in many markets, asset classes, sectors and geographies.