On October 25, 2022, Alto Neuroscience announced the closing of a $35 million Series B financing led by Lightswitch Capital and partners of Alkeon Capital, with participation from other new investors including Sobrato Capital, Novartis Pharma AG, Valor Equity Partners, Korify Capital, Vine Ventures, and Gaingels. The financing also included participation from existing investors Apeiron Group, WhatIf Ventures, Windham Venture Partners, and others. This round brings Alto’s total funding to $75 million to date. Alto will use the proceeds from the financing to advance lead candidates into Phase 2b studies in major depressive disorder in addition to continued development on other programs within its clinical-stage precision psychiatry pipeline. In addition to driving Alto’s ongoing and planned clinical trials, proceeds from the financing will be used to progress the company’s artificial intelligence-enabled brain biomarker platform and launch new clinical trials in areas of high unmet medical need. Alto will report Phase 2a data in early 2023 and further anticipates Phase 2b data readouts by early 2024.

Wilson Sonsini Goodrich & Rosati represented Alto Neuroscience in the transaction. The team includes:

Corporate
Raj Judge
Lianna Whittleton
Oliver Zhou

Delaware Corporate
Adrian Broderick

Litigation
Andy Cordo

National Security
Seth Cowell
Joshua Gruenspecht
Stephen Heifetz
Anne Seymour

Technology Transactions - Biotech
Magnus Gan

Life Sciences/Regulatory
Georgia Ravitz

For more information, please see Alto Neuroscience's press release.