# AltPep

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/altpep

- Industry: Biotechnology
- Headquarters: Seattle, US
- Website: www.altpep.com
- Total disclosed funding: $76M
- Latest round: Series B (Jun 22, 2023)
- Investors on record: 6

## About

Based in the US, AltPep Corp. is a specialist in developing innovative treatments and detection tools for amyloid diseases, such as Alzheimer's and Parkinson's, utilizing cutting-edge synthetic peptide technology.AltPep Corp. is focused on the diagnosis and treatment of amyloid diseases. The company was founded in 2019 and is headquartered in Seattle, US. The firm has received funding through three deals, with the most recent being a Series B round on June 22, 2023, where it raised USD 52.9 mn led by Senator Investment Group, alongside other investors including Eli Lilly & Company and Alexandria Venture Investments. The company was founded by Michael Mullan and Valerie Daggett, with Valerie Daggett currently serving as CEO.AltPep Corporation specializes in innovative treatments and detection tools for amyloid diseases, including Alzheimer's and Parkinson's. The company's core offerings revolve around its AltPep platform, which utilizes a proprietary library of custom-designed synthetic peptides. These peptides are engineered to selectively bind to a-sheet toxic soluble oligomers, allowing for both early detection and neutralization of these harmful entities throughout the progression of amyloid diseases. The platform supports two primary product lines: SOBIN Therapeutics, aimed at targeting and neutralizing toxic oligomers in conjunction with early detection, and SOBA Diagnostics, which provides highly sensitive blood tests for the early identification of amyloid diseases. AltPep's products are primarily targeted at healthcare providers, research institutions, and pharmaceutical companies across North America, Europe, and Asia, addressing a significant global healthcare challenge affecting millions.AltPep Corporation's revenue model is structured around partnerships with healthcare providers and research institutions, focusing on B2B transactions. The company's trademarked products, including SOBIN Therapeutics and SOBA Diagnostics, facilitate collaborations that may involve licensing agreements and joint development initiatives. These transactions are designed to streamline the adoption of their diagnostic and therapeutic solutions into clinical practice. Revenue is expected to be generated through the sale of the diagnostic tests and therapeutic products, with pricing plans tailored to specific client needs, ranging from one-time payments for diagnostic services to ongoing commitments for therapeutic applications. This business structure supports the delivery of cutting-edge solutions to clients while fostering long-term relationships within the biomedical industry.In June 2023, AltPep Corp. raised USD 52.9 mn in Series B funding, led by new investor Senator Investment Group, to expedite the development of its diagnostics and therapies for both Parkinson's and Alzheimer's diseases. The company plans to further enhance its product lines by launching new diagnostic and therapeutic solutions, with specific release dates to be announced. Additionally, AltPep aims to expand its market presence into Europe and Asia by the end of 2024, leveraging the recent funding to accelerate its growth initiatives and address the increasing demand for early detection and treatment options in these regions.

## Funding rounds

- Series B, Jun 22, 2023, $53M — Alexandria Venture Investments, Eli Lilly & Company, Partners Investment, Matrix Capital Management, Senator Investment Group, Section 32
- Series A, Dec 30, 2020, $23M — Alexandria Venture Investments, Matrix Capital Management

## Investors

- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series A, Series B
- Matrix Capital Management — Series A, Series B
- Eli Lilly & Company — Series B
- Partners Investment (https://capitalatlas.ai/funds/partners-investment) — Series B
- Senator Investment Group (https://capitalatlas.ai/funds/senator-investment-group) — Series B
- Section 32 (https://capitalatlas.ai/funds/section-32) — Series B