ARTICLE | Finance

Allergy play Alladapt taps Patient Square-backed Enavate to lead $119M round

New investment platform joins prior investor Gurnet Point, others in syndicate to advance broad-spectrum food allergy treatment

June 22, 2022 10:22 PM UTC

Launched last month by Patient Square, Enavate has made its first disclosed investment in Alladapt, leading a $119 million round intended to support further clinical development of an oral immunotherapy for multiple food allergies.

The funds will drive Alladapt Immunotherapeutics Inc. through and beyond a data readout in 1Q23 from the Phase I/II Harmony trial of lead program ADP101. The treatment takes a broad-spectrum immunotherapy approach by including proteins found in the 15 top foods that cause IgE-mediated food allergy...