Latigo Secures $150M Series B to Advance Non-Opioid Pain Treatments

Latigo Biotherapeutics, a California-based biotech company focusing on non-opioid pain management, has successfully closed a $150 million Series B funding round. The investment, led by Blue Owl Capital, positions Latigo to accelerate the development of its Nav1.8 inhibitor pipeline, potentially challenging Vertex Pharmaceuticals' recently approved Journavx in the acute pain market.

Funding Boost for Non-Opioid Pain Solutions

The substantial Series B round attracted a diverse group of investors, including Deep Track Capital, Access Biotechnology, Qatar Investment Authority, and Sanofi Ventures. This injection of capital provides Latigo with a runway extending into next year, allowing the company to advance its lead candidates through crucial clinical milestones.

Latigo's CEO, Nima Farzan, emphasized the urgency of developing non-opioid pain treatments, stating, "The need for non-opioid pain treatments has never been more urgent, and this financing allows us to accelerate the development of our robust portfolio of pain medicines that have the potential to transform the treatment landscape."

Clinical Progress and Regulatory Tailwinds

Latigo's lead asset, LTG-001, is currently in a Phase 2 clinical trial for acute pain following wisdom teeth removal. The company expects results from this study in the latter half of 2025, with data from late-stage trials in post-operative pain for tummy tuck and bunion removal procedures anticipated in early 2026.

LTG-001 recently received Fast Track designation from the FDA for acute pain, potentially expediting its development and review process. This regulatory support comes as the U.S. government implements new legislation aimed at improving access to non-opioid pain management options through Medicare.

Competitive Landscape and Market Potential

Latigo's progress comes on the heels of Vertex Pharmaceuticals' January 2025 FDA approval for Journavx, the first Nav1.8 inhibitor to reach the market. While Journavx faces challenges in a market dominated by cheap opioids, analysts project it could eventually generate billions in sales.

Farzan acknowledges the competitive landscape but sees opportunities for differentiation. "We can take our time. The markets are a little choppy," he noted, indicating that Latigo is in no rush for an IPO given its current funding position.

Expanding Pipeline and Future Prospects

Beyond LTG-001, Latigo is advancing LTG-305 for chronic pain, with Phase 1 results expected by mid-2025. The company is also developing LTG-321, a potentially more potent follow-on compound, and exploring acid-sensing ion channel targets in preclinical studies.

As the opioid crisis continues to impact millions of Americans, with 8.6 million reporting prescription opioid misuse in 2023, the race to develop effective, non-addictive pain treatments intensifies. Latigo's robust funding and advancing pipeline position it as a key player in this critical field, with the potential to significantly impact the pain management landscape in the coming years.