BRIEF—TVM creates new company, LAmAb Biologics

A new biotech startup, LAmAb Biologics, has been founded with the goal of creating a first-in-class antibody in allergic rhinitis, otherwise known as hay fever.

The USA-based firm is the creation of venture capital firm TVM Capital Life Science, which has invested $25 million at this stage.

The long-term strategy is to expand development to other forms of IgE-mediated diseases such as asthma and food allergies.

LAmAb is the ninth early-stage investment for the fund, which is partnered with Eli Lilly, giving the young company the option to leverage the drugmaker’s R&D unit to help determine proof of concept.

TVM Capital Life Science general partner Sascha Berger said the group had “secured the rights to a novel first-in-class asset with the potential to positively impact challenging-to-treat allergic diseases.”

He added: “We are pleased to collaborate with the well-proven management team of Caroline Fortier and Mark Cipriano, who will act as CEO and CFO, respectively, for LAmAb."