Enavate Sciences led a $119m funding round in Alladapt.

Enavate Sciences, a company which is committed to invest in and support the strategic growth of innovative therapeutic and enabling technology companies, led a $119m funding round in Alladapt, a private, clinical-stage biopharmaceutical company, with participation from Gurnet Point Capital, Allerfund, Novartis, Red Tree Venture Capital, and WestRiver Group. “We are pleased to further accelerate the development of our investigative clinical program targeting the treatment of allergy to one or to multiple foods through a singular oral immunotherapy. Food allergy is a serious, chronic disease in which accidental exposure to an allergen can cause a rapid onset, severe, potentially life-threatening reaction. The challenges of food allergy can be particularly difficult for patients who have allergies to many foods. Treatment options are urgently needed, and we believe ADP101 holds immense promise as a therapeutic modality targeting clinically meaningful allergen desensitization. With this financing, we are delighted to have the continued support of Gurnet Point Capital and to welcome George and Jim to our Board of Directors, who both bring a deep understanding of the food allergy space and can offer meaningful perspective as we advance our clinical programs,” Ashley Dombkowski, Alladapt Chief Executive Officer and Co-Founder.