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§ Private Profile · 601 Gateway Boulevard., Suite 250 South San Francisco, California 94080, US
Biopharmaceutical company developing novel therapies for glaucoma and ocular hypertension, focused on ROCK inhibitors.
Altheos was a clinical-stage biopharmaceutical company based in South San Francisco, California, that focused on the discovery and development of novel small molecule therapies for glaucoma and ocular hypertension. The biotechnology firm primarily researched a next-generation Rho kinase inhibitor called ATS907, designed to lower intraocular pressure, before ultimately ceasing operations around 2014 following unsuccessful Phase 2 clinical trials. Prior to its closure, the enterprise raised a total of $52 million in venture capital financing across multiple equity rounds. This capital included a $32 million Series A round in 2010 and a $20 million Series B round in 2012, backed by prominent lead investors such as Novo A/S, Canaan Partners, Bay City Capital, and Alta Partners, while former Allergan executive Lester Kaplan served as board chairman. Altheos was founded in 2009 by Henry H. Hsu and M. Kengatharan.
Altheos has raised $33.0M across 2 funding rounds.
Altheos has raised $33.0M in total across 2 funding rounds.
Altheos, Inc. was an early-stage biopharmaceutical company focused on developing novel small molecule drugs, particularly eye drop therapies for glaucoma and ocular hypertension. It targeted promising, well-differentiated compounds like ATS-907, a Rho kinase (ROCK)-selective inhibitor to reduce elevated intraocular pressure (IOP).[1][2][3][4][6] The company served patients with primary open-angle glaucoma, addressing unmet needs in next-generation topical treatments through its pipeline, including Phase 2a clinical trials.[4] Altheos raised $20 million in Series A financing (later expanded to $32.5 million via tranches tied to milestones) from investors like Bay City Capital, Novo A/S, and Canaan Partners, showing early growth momentum before apparent inactivity.[3][4]
Altheos, Inc. emerged as a biotech startup in the biopharmaceutical space, with roots in South San Francisco, licensing ROCK inhibitor compounds from Asahi Kasei Pharma.[4] Key milestones included completing a $20 million Series A round to advance glaucoma treatments and initiating a Phase 2a clinical trial for lead candidate ATS-907 in 2012, dosing its first patient.[3][4] An additional $12.5 million tranche brought total funding to $32.5 million, supporting pipeline development amid early traction in ophthalmology.[4] Founders and exact founding year are not detailed in available records, but the company's focus evolved around small molecule innovation for eye diseases.[1][2]
(Note: A separate entity, Alethos Technologies, focuses on safety and security tech, but matches the query's "technology company" less directly than Altheos' biotech innovations.[5])
Altheos rode the early 2010s wave of targeted small molecule therapies in ophthalmology, capitalizing on ROCK inhibitors as a next-generation alternative to existing IOP-lowering drops amid rising glaucoma prevalence.[3][4] Timing aligned with biotech investor interest in specialty pharma, where focal therapies addressed neovascularization and fibrosis—trends now amplified by aging populations and demand for non-invasive treatments.[4] Market forces like licensing deals (e.g., from Asahi Kasei) favored nimble startups, positioning Altheos to influence eye care innovation, though its footprint appears limited post-2012 trials.[1][2]
Altheos exemplified early biotech promise in glaucoma innovation but shows no recent activity, suggesting acquisition, pivot, or dormancy—common in pre-clinical ventures. Future trends like AI-driven drug discovery and sustained-release eye therapies could revive similar ROCK-focused pipelines, potentially evolving Altheos' legacy through acquirers advancing ATS-907 analogs. Watch for biotech consolidation, where its investor network might fuel comebacks in ophthalmology's $10B+ market. This early mover's story underscores biotech's high-stakes race from Series A to market.
Altheos has raised $33.0M in total across 2 funding rounds.
Altheos's investors include Canaan Partners, Pivotal bioVenture Partners, Rob Hopfner, Atheneos Capital, Wende Hutton, Life Science Angels, Peter Bisgaard.
Altheos has raised $33.0M across 2 funding rounds. Most recently, it raised $13.0M Series A in February 2012.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| Feb 1, 2012 | $13M Series A | — | Canaan Partners, Pivotal BioVenture Partners | Announced |
| Apr 1, 2010 | $20M Series A | ROB Hopfner | Canaan Partners, Pivotal BioVenture Partners, Atheneos Capital, Wende Hutton, Life Science Angels, Peter Bisgaard | Announced |