Altheos

About Altheos

Altheos Inc. was a biopharmaceutical firm established to address unmet needs in the ophthalmic sector, specifically focusing on glaucoma treatment. Founded in 2009 by Dr. Henry Hsu and M. (Ken) Kengatharan, the company operated from South San Francisco, a key hub for biotechnology ventures. Dr. Hsu, who also served as CEO, brought extensive experience in pharmaceutical drug development to the venture, having held leadership roles at several biopharmaceutical companies and possessing an M.D. from the University of California, San Francisco.

The company's core business was the development of next-generation therapies for glaucoma. Its primary asset was ATS-907, a selective Rho-kinase (ROCK) inhibitor formulated as an eye drop. This compound was licensed from the Japanese pharmaceutical company Asahi Kasei Pharma and was designed to reduce elevated intraocular pressure, a key factor in primary open-angle glaucoma and ocular hypertension. The therapeutic mechanism of ROCK inhibitors was considered a new approach at the time, with the potential to offer a significant improvement over existing treatments, none of which had introduced a new mechanism of action in the preceding 15 years.

Altheos successfully navigated the early stages of venture financing, securing a substantial Series A round totaling $32.5 million. The initial $20 million was raised in 2010, led by Bay City Capital and joined by investors such as Novo A/S and Canaan Partners. An additional $12.5 million was added to the round in 2012 to advance the clinical development of its lead candidate. This funding facilitated the progression of ATS-907 into a Phase IIa clinical trial. Despite these early milestones, the company has since been reported as deadpooled.