Allergen raises $80M for peanut Phase III

Allergen Research Corp. (San Mateo, Calif.) raised $80 million in a series B round led by Foresite Capital. Existing investor Longitude Capital and new investors Fidelity Management & Research Co.; Aisling Capital; Adage Capital; RA Capital Management; and Palo Alto Investors participated.

Allergen plans to enter Phase III testing with lead compound AR101 to treat peanut allergy. The treatment introduces standardized doses of a cGMP formulation of peanut protein through the company's characterized oral desensitization immunotherapy (CODIT) protocol. AR101 has Fast Track designation from FDA to treat peanut allergy in adults and children. ...