Alethio Therapeutics raises $90M Series A for rare blood cancer antibody

Alethio Therapeutics, a University of Oxford spinout led by CEO Rohit Batta and co-founded by researchers Adam Mead and Beth Psaila, announced a $90 million Series A funding round on November 5, 2026. The financing, co-led by Sofinnova Partners and RA Capital Management, will advance lead antibody candidate ATX-011 into clinical trials by early 2028. ATX-011 targets the G6b receptor on platelets and bone marrow cells to treat rare myeloproliferative neoplasms such as essential thrombocythemia.

Alethio Therapeutics funding round and origins

• ▪U.K.-based biotechnology startup Alethio Therapeutics announced a $90 million Series A funding round on November 5, 2026 to advance treatments for rare blood cancers
• ▪Alethio Therapeutics was co-founded by University of Oxford physicians and professors Adam Mead and Beth Psaila
• ▪Alethio Therapeutics' $90 million Series A financing was co-led by Sofinnova Partners and RA Capital Management, with backing from Cancer Research Horizons, Oxford Science Enterprises, and the University of Oxford

Alethio Therapeutics pipeline and lead candidate ATX-011

• ▪Preclinical studies demonstrate ATX-011 acts as a well-behaved medicine that binds to G6b regardless of specific disease-driving mutations present in patients, Alethio said
• ▪Alethio said ATX-011 targets G6b, a protein receptor expressed on platelets and bone marrow cells that induce myeloproliferative neoplasms or cause bone marrow scarring
• ▪Alethio Therapeutics is developing a second drug prospect, an antibody-drug conjugate, to treat myelofibrosis alongside ATX-011
• ▪Alethio Therapeutics' lead monoclonal antibody candidate ATX-011 is scheduled to enter clinical testing in the first half of 2028

Targeting essential thrombocythemia

• ▪Essential thrombocythemia affects an estimated 150,000 patients in the United States, surpassing the combined patient populations of polycythemia vera and primary myelofibrosis, Alethio said
• ▪Sofinnova Partners managing partner Graziano Seghezzi stated that targeting essential thrombocythemia could give Alethio Therapeutics' drug candidate greater reach compared to approved treatments for other myeloproliferative neoplasms

Limitations of existing treatments

• ▪Existing myeloproliferative neoplasm treatments include frequent blood withdrawals, hydroxyurea, interferon therapies, JAK inhibitors such as Jakafi, and Takeda's newly approved medicine Mimrylo for polycythemia vera
• ▪Alethio Therapeutics chief executive officer Rohit Batta stated that existing treatments fail to help the majority of patients with myeloproliferative neoplasms