citybiz+ Triveni Bio raises $65M Series C co-led by Ascenta, Henderson Investors. June 17, 2026 Triveni Bio has raised $65 million in a Series C round co-led by Ascenta Capital and Janus Henderson Investors. The Watertown, Mass. biotech, focused on immune and inflammatory diseases, plans to use the funds to advance its pipeline, including a Phase 2 atopic dermatitis trial later this year. Vishal Patel Triveni Bio, a clinical-stage biotechnology company developing novel antibody treatments for immunological and inflammatory disorders, has closed a $65 million Series C financing round co-led by new investors Ascenta Capital and Janus Henderson Investors, with participation from Deep Track Capital. The company's prior investors include Fidelity, Deep Track Capital, Alexandria Venture, Goldman Sachs, and Atlas Venture. The Watertown, Mass.-based startup emerged from a merger of Amagma Therapeutics and Modify Therapeutics in 2023 and focuses on so-called "genetics-informed precision medicine" approach to immune and inflammatory diseases. At the outset, it raised $92 million in a Series A funding round. Triveni Bio has three drugs in its pipeline. Two - TRIV-509 and TRIV-573 - address atopic dermatitis, while the third, TRIV-920, targets pancreatitis. Of the three, TRIV-573 is the most advanced - a half-life-extended, next-generation bispecific engineered to address the underlying cause of atopic dermatitis by simultaneously inhibiting KLK5/7, known to be a central driver of skin barrier dysfunction, and the Th2 cytokine IL-13. Triveni recently began first-in-human clinical studies with TRIV-573. The company expects to use the new capital to extend the scope and rigor of its clinical development, including an atopic dermatitis Phase 2 clinical proof-of-concept study expected to be initiated later this year. "This financing enables us to disrupt the status quo in atopic dermatitis, addressing not just inflammation, but the underlying dysfunction of the skin barrier, positioning Triveni to bring a long-overdue option to a population of patients still in need of relief," said Triveni Bio CEO Vishal Patel, who earned a Ph.D. in Biological Chemistry and Molecular Pharmacology from Harvard University. Patel, who also holds an MBA from MIT's Sloan School, says his company has built a highly differentiated pipeline that combines "novel biology with established anti-inflammatory mechanisms." According to Mordor Intelligence, the U.S. atopic dermatitis drug market is valued between $5.6 billion and $21.1 billion, depending on whether industry reports track strict prescription sales or broader categories including emollients. This sector is driven by the high prevalence of eczema, which reportedly affects over 31 million Americans. Triveni Bio's closest competitors include Centrose, Xalud Therapeutics, and Aviceda, according to Pitchbook data. Together with the funding, Triveni Bio said Evan Rachlin, M.D., co-founder and managing partner at Ascenta Capital, has joined the company's board. "Triveni Bio has rapidly and efficiently advanced novel programs to address significant gaps in the existing standard of care," said Rachlin. "The speed with which the team has progressed two assets into the clinic - less than one year apart - is a testament to their operational execution. I am thrilled to join the Board of Directors at this exciting inflection point for the company."

Triveni Bio raises $65 million Series C financing to expand scope of first-in-class bispecific TRIV-573 clinical studies and drive next-stage company growth. Jun 17, 2026, 07:00 ET - Series C supported by premier syndicate including co-leads Ascenta Capital and Janus Henderson Investors with significant participation from Deep Track plus existing investors - - Fundingenables larger Phase 2 clinical proof-of-concept trial evaluating IL-13 and KLK5/7 dual-targeting antibody in atopic dermatitis - - Evan Rachlin, M.D., Co-Founder and Managing Partner of Ascenta Capital, joins the Board of Directors - WATERTOWN, Mass., June 17, 2026 /PRNewswire/ - Triveni Bio Inc., a clinical-stage biotechnology company advancing novel antibody treatments for immunological and inflammatory (I&I) disorders, today announced a $65 million Series C financing round to support pipeline expansion and continued corporate growth. The round was co-led by new investors Ascenta Capital and Janus Henderson Investors, with significant participation from Deep Track Capital, alongside additional existing investors. Proceeds from this financing will allow the company to extend the scope and rigor of clinical development of TRIV-573, including an atopic dermatitis Phase 2 clinical proof-of-concept study expected to initiate later this year. TRIV-573 is a half-life extended, next-generation bispecific engineered to address the underlying cause of atopic dermatitis by simultaneously inhibiting KLK5/7 - validated as central drivers of skin barrier dysfunction - and the Th2 cytokine IL-13. "This financing enables us to disrupt the status quo in atopic dermatitis, addressing not just inflammation, but the underlying dysfunction of the skin barrier, positioning Triveni to bring a long-overdue option to a population of patients still in need of relief," said Vishal Patel, Ph.D., Chief Executive Officer of Triveni Bio. "We have built a highly differentiated pipeline that combines novel biology with established anti-inflammatory mechanisms. In addition to a thorough investigation of TRIV-573 in atopic dermatitis, this funding allows us to explore kallikrein 5/7 biology in other related barrier disorders." The raise comes weeks after the initiation of first-in-human clinical studies with TRIV-573. In conjunction with the financing, industry veteran Evan Rachlin, M.D., Co-Founder and Managing Partner at Ascenta Capital, has joined the Triveni Bio Board of Directors. "Triveni Bio has rapidly and efficiently advanced novel programs to address significant gaps in the existing standard-of-care," said Evan Rachlin, M.D. "The speed with which the team has progressed two assets into the clinic - less than one year apart - is a testament to their operational execution. I am thrilled to join the Board of Directors at this exciting inflection point for the company." This momentum comes alongside recognition for Triveni's leadership with Chief Executive Officer Vishal Patel, Ph.D., recently named a Finalist for the Ernst & Young (EY) Entrepreneur Of The Year(R) 2026 award. The nomination highlights Vishal's leadership and excellence in driving programs from concept to clinical trial with speed and rigor. About TRIV-509 Triveni's lead program, TRIV-509 (anti-kallikreins 5 & 7), is a half-life extended monoclonal antibody positioned for the treatment of moderate-to-severe atopic dermatitis (AD). Through its mechanism of protease inhibition, TRIV-509 has demonstrated the ability to directly impact each key pillar of AD - barrier dysfunction, inflammation, and itch. TRIV-509 is the subject of an ongoing Phase 2 proof-of-concept trial with data expected end of 2026. About TRIV-573 TRIV-573 is a half-life extended, second-generation bispecific antibody that combines KLK5/7 inhibition with a highly potent anti-IL-13 mechanism. Triveni plans to initiate a proof-of-concept trial in AD later this year. About Triveni Bio Triveni Bio is a biotechnology company at the forefront of novel antibody-based therapies for immunological and inflammatory disorders. Using a genetics-informed, precision medicine approach, the company seeks to establish proof-of-concept early in the drug development process by leveraging deep insights into genetic and mechanistic biology. To learn more, visit www.triveni.bio. SOURCE Triveni Bio