Allena Pharmaceuticals has announced it has secured $53 million in series C financing.
Allena, based in Newton, Mass., is biopharmaceutical company focused on developing and commercializing nonsystemic oral protein therapeutics to treat metabolic and orphan diseases.
The financing round was led by Partner Fund Management. Additional new investors included Fidelity Management & Research Company and Wellington Management Company. Allena’s existing investors also participated.
Allena indicated it intends to use the proceeds to advance ALLN-177, its lead product candidate designed to treat secondary hyperoxaluria in patients with a history of calcium oxalate kidney stones, into phase 3 clinical trials.