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Latigo saddles up with $150M to spur non-opioid pain drugs through the clinic

Latigo saddles up with $150M to spur non-opioid pain drugs through the clinic

About 8.6 million Americans reported misusing prescription opioids in 2023, according to the Centers for Disease Control and Prevention. The huge market for pain relief and urgent public health need for nonaddictive treatment options has led numerous biotechs to attempt developing opioid alternatives.

Led by Blue Owl Capital and participated by Qatar Investment Authority and Sanofi Ventures and some other investors, Latigo Biotherapeutics has whipped together a $150 million series B fundraising round to advance a pipeline of non-opioid pain management drugs.

Founded in 2018, the clinical-stage biotechnology company has recently reported positive Phase 1 results for LTG-001, which is an oral, new nonopioid pain treatments that target pain at its source. In the Phase 1 first-in-human clinical trial, data showed that LTG-001 was well tolerated with rapid absorption. Latigo will use the money to further develop the products and its broader pipeline.

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