Allena's series C round brings $53M

Allena Pharmaceuticals Inc. (Newton, Mass.) raised $53 million in a series C financing led by Partner Fund Management. New investors Fidelity and Wellington Management also participated, along with existing investors Frazier Healthcare, HBM BioCapital and the Pharmstandard International S.A. subsidiary of Pharmstandard OJSC (RTS:PHST; LSE:PHST).

Allena President and CEO Alexey Margolin told BioCentury that the company expects data next summer from the first of two Phase II studies of lead candidate ALLN-177, an oral recombinant oxalate degrading enzyme to treat secondary hyperoxaluria in patients with a history of calcium oxalate kidney stones. He said Allena plans to start a Phase III study by YE16. ...