On October 31, 2023, Aileron Therapeutics, Inc. (NASDAQ: ALRN) announced the completion of its acquisition of Lung Therapeutics, Inc. Concurrent with the closing of the transaction, a group of accredited investors led by Bios Partners, with participation from Nantahala Capital as well as other undisclosed investors, invested approximately $18 million in the company. Aileron intends to use the proceeds from the private placement primarily to complete the ongoing Phase 1b clinical study of LTI-03, a Caveolin-1-related peptide in development for the treatment of IPF, and for general corporate purposes.
Ladenburg Thalmann & Co. Inc. acted as the Exclusive Financial Advisor to Aileron in its acquisition of Lung.
About Aileron Therapeutics
Following the acquisition of Lung Tx, Aileron is shifting its disease focus to advancing a pipeline of first-in-class medicines to address significant unmet medical needs in orphan pulmonary and fibrosis indications. Aileron's lead product candidate, LTI-03, is in a Phase 1b clinical trial for the treatment of idiopathic pulmonary fibrosis. LTI-03 is a novel, synthetic peptide with a dual mechanism targeting alveolar epithelial cell survival as well as inhibition of profibrotic signaling. Aileron's second product candidate, LTI-01, is a proenzyme that has completed Phase 1b and Phase 2a clinical trials for the treatment of loculated pleural effusions. LTI-01 has received Orphan Drug Designation in the US and EU and Fast Track Designation in the US. For more information, please visit https://aileronrx.com/.
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