Alethio Therapeutics, a spin-out from the University of Oxford, has secured €80.46 million in a Series A funding round. The company, founded in 2021 by professors Adam Mead and Beth Psaila, focuses on developing targeted therapies for myeloproliferative neoplasms (MPNs), including essential thrombocythaemia.
The startup plans to use the new capital to transition into a clinical-stage company. Specifically, funds will support the advancement of its lead monoclonal antibody program, ATX-011, through Phase 1/2a studies and prepare it for Phase 3. Additionally, the company intends to progress other pipeline programs toward IND submission.
Alethio utilizes its proprietary discovery engine, ARTEMIS, to identify and validate novel disease drivers. Beyond ATX-011, which targets the G6B protein, the company is developing a program aimed at mutant calreticulin-driven disease, a condition affecting approximately 30% of MPN patients.
The company's approach aims to selectively eliminate disease-driving cells rather than relying on non-targeted treatments. Preclinical data for the ATX-011 program has been selected for an oral presentation at the 2026 American Society of Hematology Annual Meeting.
