Latigo Biotherapeutics Raises $150 Million to Advance Non-Opioid Pain Therapeutics

United States-based Latigo Biotherapeutics (Latigo), a clinical-stage biotechnology company specializing in non-opioid pain treatments that target pain at its source, announced on March 17, 2025 that has closed a Series B round of funding with $150 million (1). The funds will be used to advance the company’s highly selective Nav1.8 inhibitors, which are currently in clinical development for the non-opioid treatment of pain. The funds will also be used to develop the company’s broader pipeline of drug candidates.

Led by funds managed by Blue Owl Capital, the financing round included participation from Deep Track Capital, Access Biotechnology, Qatar Investment Authority, Cormorant Asset Management, Sanofi Ventures, Rock Springs Capital, UPMC Enterprises, and Kern Capital. Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments—already existing investors—also contributed to the financing round (1).

“The need for non-opioid pain treatments has never been more urgent, and this financing allows us to accelerate the development of our robust portfolio of pain medicines that have the potential to transform the treatment landscape,” said Nima Farzan, chief executive officer of Latigo Biotherapeutics, in a company press release (1). “We appreciate the support of our new and existing investors as we work to bring best-in-class, non-addictive pain treatments to patients.”

In August 2024, Latigo reported positive Phase I results for its lead non-opioid pain medicine candidate, LTG-001, an oral, selective Nav1.8 inhibitor. LTG-001 is in development for treating acute pain at its source. The Phase I trial, a first-in-human clinical trial, showed that LTG-001 was well tolerated and had rapid absorption (2). The Phase I trial aims to evaluate the safety, tolerability, and pharmacokinetics of the candidate in healthy volunteers through single-ascending dose and multiple-ascending dose cohorts.

Earlier in March 2025, LTG-001 was granted fast track designation by FDA after demonstrating a favorable safety and tolerability profile with predictable pharmacokinetics in the Phase I trial. LTG-001 works by blocking peripheral sensory neurons that are responsible for pain signals. Blocking these peripheral neurons prevents the transmission of pain signals to the central nervous system (3).

“We are pleased [FDA] has granted [f]ast [t]rack designation to LTG-001, recognizing its potential to transform the treatment landscape for acute pain by targeting pain at its source,” Farzan said in a press release issued at the time the fast track designation was granted (3). “This marks an important milestone for Latigo and reinforces the promise of LTG-001 as a highly selective, well-tolerated non-opioid approach for treating pain. With this designation, we look forward to working closely with [FDA] to accelerate development and bring this much-needed non-opioid medicine to patients rapidly.”

Meanwhile, as part of the Series B financing, Kevin Raidy, senior managing director at Blue Owl Capital, has joined Latigo’s board of directors. “The field of pain management is long overdue for innovation beyond opioids, and we believe Latigo is well-positioned to advance novel, non-addictive treatments that could make a real difference for patients,” Raidy said in the March 17 press release (1).

References

1. Latigo Biotherapeutics. Latigo Biotherapeutics Closes $150 Million in Series B Financing to Advance Non-Opioid Pain Therapeutics. Press Release. March 17, 2025.
2. Latigo Biotherapeutics. Latigo Biotherapeutics Announces Positive Phase 1 Data for
Lead Non-Opioid Pain Medicine Candidate and Appoints Neil Singla, M.D., Chief Medical Officer. Press Release. Aug. 19, 2024.
3. Latigo Biotherapeutics. Latigo Biotherapeutics Granted FDA Fast Track Designation for LTG-001, Potential Best-in-Class Nav1.8 Inhibitor for the Non-Opioid Treatment of Acute Pain. Press Release. March 3, 2025.