Funding Roundup: Recent Financing Rounds Completed for Pain, Cancer, and Musculoskeletal Care Innovations

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Three companies recently announced successful fundraising rounds across the biotechnology, therapeutics, and musculoskeletal care industries.

Latigo Biotherapeutics

Latigo Biotherapeutics closed a successful Series B financing round, raising $150 million. According to the company, the proceeds will fund the advancement of its pipeline, including Nav1.8 inhibitors, which are in development as a non-opioid pain treatment. Financing was led by Blue Owl Capital, with participation from multiple investors, including Sanofi Ventures; Qatar Investment Authority; Deep Track Capital; Access Biotechnology; Cormorant Asset Management; Rock Springs Capital; UPMC Enterprises; Kern Capital; and existing investors such as Westlake Village BioPartners, Foresite Capital, 5AM Ventures, and Alexandria Venture Investments.

As part of Blue Owl Capital’s participation, Kevin Raidy, senior managing director, has also joined Latigo’s board of directors.¹

"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," said Nima Farzan, CEO of Latigo Biotherapeutics, in a press release. "We appreciate the support of our new and existing investors as we work to bring best-in-class, non-addictive pain treatments to patients."

Vivace Therapeutics

Vivace Therapeutics announced that it raised $35 million in Series D financing, led by RA Capital Management, to support the development of VT3989, a first-in-class TEAD autopalmitoylation inhibitor targeting the Hippo pathway. Financing was also supported by Canaan Partners and Cenova Capital, two existing partners of Vivace.

VT3989 is currently being evaluated in a Phase I clinical trial involving 150 patients, demonstrating strong efficacy and safety, particularly in mesothelioma patients who have not responded to standard therapies. Full data will be presented at a major medical conference later this year.²

"The results of our clinical evaluation of VT3989 to date give us confidence that the appropriate next step for the program is advancement into a registrational Phase III trial in patients with mesothelioma. We are now laser-focused on executing against this strategy, including completing our ongoing clinical study and meeting with FDA to align on next steps," said Sofie Qiao, PhD, president and CEO of Vivace Therapeutics, in a press release. "We are grateful to RA Capital for leading this round, as well as the continued support from Canaan Partners and Cenova Capital. This new funding will prove critical to enabling our successful development of VT3989."

Vori Health

Vori Health announced that it has secured $53 million in Series B financing to expand its physician-led, value-based musculoskeletal care platform. According to the company, funding was led by NEA, with additional support from AlleyCorp, Intermountain Health's Intermountain Ventures, Echo Health Ventures, and Max Ventures.

Over the past 18 months, Vori has reported an 800% revenue increase, along with significant reductions in opioid use, elective surgeries, and mental health symptoms among patients treated by the practice. According to Vori, 91.6% of patients reported clinically significant pain improvement, with elective orthopedic surgeries decreasing by 78%-90%, opioid use declining by 42%, and depression and anxiety symptoms dropping by up to 68%.³

"This investment marks a pivotal moment in our journey to deliver truly value-based musculoskeletal care at scale," said Ryan Grant, co-founder and CEO of Vori Health, in a press release. "By integrating board-certified specialty physicians, cohesive care teams, and cutting-edge technology, we're achieving outstanding outcomes nationwide. The swift adoption of our platform by Fortune 200 companies and national health plans clearly indicates that the market is primed for our comprehensive solutions."

References

1. Latigo Biotherapeutics Closes $150 Million in Series B Financing to Advance Non-Opioid Pain Therapeutics. PR Newswire. March 17, 2025. Accessed March 19, 2025. https://prnmedia.prnewswire.com/news-releases/latigo-biotherapeutics-closes-150-million-in-series-b-financing-to-advance-non-opioid-pain-therapeutics-302397457.html

2. Vivace Therapeutics Raises $35 Million in Series D Financing to Support Clinical Development of First-in-Class Cancer Drug Targeting the Hippo Pathway. PR Newswire. March 12, 2025. Accessed March 19, 2025. https://prnmedia.prnewswire.com/news-releases/vivace-therapeutics-raises-35-million-in-series-d-financing-to-support-clinical-development-of-first-in-class-cancer-drug-targeting-the-hippo-pathway-302397707.html

3. Vori Health Secures $53 Million in Series B Funding to Transform Value-Based Musculoskeletal Care. PR Newswire. March 11, 2025. Accessed March 19, 2025. https://prnmedia.prnewswire.com/news-releases/vori-health-secures-53-million-in-series-b-funding-to-transform-value-based-musculoskeletal-care-302398315.html