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Investments

57

Portfolio Exits

15

Funds

17

About WestRiver Group

WestRiver Group is a venture capital firm that specializes in early stage investments in biotechnology, software, and telecommunications sectors.

WestRiver Group Headquarter Location

920 5th Ave

Seattle, Washington, 98104,

United States

425-952-3950

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Latest WestRiver Group News

Alladapt Announces Completion of Oversubscribed $119 Million Institutional Financing

Jun 22, 2022

Financing from new and existing investors will support continued development of a novel treatment for food allergy Jim Momtazee and George Montgomery to join Alladapt’s Board of Directors MENLO PARK, Calif., June 22, 2022 (GLOBE NEWSWIRE) -- Alladapt Immunotherapeutics Inc., a private, clinical-stage biopharmaceutical company developing prescription therapeutics to address IgE-mediated food allergy, announced today the closing of a $119 million financing round led by Enavate Sciences, a portfolio company created by Patient Square Capital. Additional investors participating in the financing include Alladapt’s founding investor, Gurnet Point Capital, along with new investors Allerfund, Novartis (NYSE: NVS), Red Tree Venture Capital, and WestRiver Group. Proceeds from this funding round will support the ongoing clinical development of ADP101, the Company’s lead product candidate, as well as preparation for a potential pivotal trial, the continued buildout of Alladapt’s manufacturing facility, and investment in further pipeline expansion. Leveraging an immense body of evidence in oral immunotherapy developed by many leading allergists, including Dr. Kari Nadeau, the Director of the Sean N. Parker Center for Allergy and Asthma Research at Stanford University and co-founder of Alladapt, ADP101 is currently being studied in Harmony, a Phase 1/2 trial, and Encore, the associated open-label extension (OLE) study, in food allergy patients. “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,” commented Ashley Dombkowski, Ph.D., Alladapt’s Chief Executive Officer and co-founder. “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.” Glenn Reicin, Alladapt’s Chief Financial Officer, commented: “The substantial investment on behalf of this expert syndicate of investors enables us to allocate resources to expand the development of ADP101, which has the potential to be the first FDA-approved therapy to treat the majority of U.S. food allergy patients.” “Our firm remains committed to Alladapt's vision for a best-in-class approach that truly aligns with the needs of patients, their families, and clinicians,” added Sophie Kornowski, Partner at Gurnet Point Capital, Alladapt’s founding investor. “We are excited to partner with Alladapt given our enthusiasm around oral immunotherapy, or OIT, as an important treatment option in the food allergy therapeutic landscape. I am equally pleased to join Alladapt’s Board and support the Company’s leadership in its endeavor to treat highly reactive pediatric and adult patients with food allergy,” said Jim Momtazee, Managing Partner of Patient Square Capital. “Having closely followed the food allergy space, and the commercial market at large, Alladapt stands out because of its potentially best-in-class prescription therapeutic targeted to treat multi-allergies simultaneously,” said George Montgomery, consultant to WestRiver Group and Senior Advisor to Alvarium Investments LLC. “I look forward to working with Alladapt’s co-founders, with whom I have collaborated in the past and who are acclaimed experts in the food allergy space, in addition to Alladapt’s seasoned senior executives who hold diversified experiences across the food allergic disease landscape.” In conjunction with the financing, Heath Lukatch, Ph.D., Founder and Managing Partner of Red Tree Venture Capital, will become an Alladapt board observer. Jefferies, LLC acted as placement agent for the financing. About Alladapt Immunotherapeutics Alladapt Immunotherapeutics Inc. is a private, clinical-stage biopharmaceutical company developing prescription therapeutics targeting food allergy. The company is currently conducting the Harmony Study, a Phase 1/2, randomized, double-blind, placebo-controlled study evaluating the efficacy and safety of ADP101 for the treatment of food allergy in children and adults, and the Encore Study, an open-label extension study for its Harmony study. ADP101 is an investigational oral immunotherapy product candidate representing the nine food groups responsible for the vast majority of significant food allergic reactions globally. Alladapt was co-founded in 2018 by biotechnology entrepreneur, Ashley Dombkowski, Ph.D. and allergist, clinician and protein biochemist, Kari Nadeau, M.D., Ph.D. Dr. Nadeau is also the Naddisy Foundation Endowed Professor of Medicine and Pediatrics and Director of the Sean N. Parker Center for Allergy and Asthma Research at Stanford University. Food allergen specific OIT conducted by Dr. Nadeau and other food allergy experts is an approach that has shown consistently promising results through administration of increasing amounts of an allergen to individuals with food allergy to raise the reactive threshold and decrease the severity of allergic responses to the allergenic food. This work, combined with research on disease mechanisms, pathways, and protein structures, led the founders to envision biopharmaceutical interventions capable of addressing food allergy due to a wide-ranging set of foods. For more information, please visit the Company's website at www.alladapt.com . About Enavate Sciences Enavate Sciences is a platform created by Patient Square Capital dedicated to supporting therapeutic companies advancing medicines and enabling technologies with transformative potential to address patient need. Through the application of capital support and operational experience, Enavate strives to enable and empower a diverse portfolio of therapeutics companies to accelerate innovation. To learn more about Enavate, please visit  www.enavatesciences.com . About Gurnet Point Capital Gurnet Point Capital is a unique healthcare investment platform within the B-Flexion group and led by a team with deep expertise in an industry for which they share a passion, both as investors and senior executives. GPC invests long-term capital and supports entrepreneurs in building a new generation of companies that deliver outsized returns through active ownership. Based in Cambridge, MA, its remit encompasses life sciences and health care focused businesses, with a particular emphasis on businesses that have high growth potential in the product development and commercialization stages of their evolution. With its strategy of driving best in class operational transformation for these businesses, to create social impact while generating significant economic value, Gurnet is able to deliver differentiated results for its investors and partners. www.gurnetpointcapital.com . Source: Alladapt Immunotherapeutics, Inc.

WestRiver Group Investments

57 Investments

WestRiver Group has made 57 investments. Their latest investment was in Alladapt Immunotherapeutics as part of their Series D on June 6, 2022.

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WestRiver Group Investments Activity

investments chart

Date

Round

Company

Amount

New?

Co-Investors

Sources

6/22/2022

Series D

Alladapt Immunotherapeutics

$119M

Yes

8

4/18/2022

Seed VC

CHEQ

$3M

Yes

1

4/13/2022

Series A - II

Tagboard

$2.3M

Yes

1

11/11/2021

Convertible Note

Subscribe to see more

$99M

Subscribe to see more

10

10/12/2021

Series E - II

Subscribe to see more

$99M

Subscribe to see more

10

Date

6/22/2022

4/18/2022

4/13/2022

11/11/2021

10/12/2021

Round

Series D

Seed VC

Series A - II

Convertible Note

Series E - II

Company

Alladapt Immunotherapeutics

CHEQ

Tagboard

Subscribe to see more

Subscribe to see more

Amount

$119M

$3M

$2.3M

$99M

$99M

New?

Yes

Yes

Yes

Subscribe to see more

Subscribe to see more

Co-Investors

Sources

8

1

1

10

10

WestRiver Group Portfolio Exits

15 Portfolio Exits

WestRiver Group has 15 portfolio exits. Their latest portfolio exit was Wicket Labs on February 02, 2022.

Date

Exit

Companies

Valuation
Valuations are submitted by companies, mined from state filings or news, provided by VentureSource, or based on a comparables valuation model.

Acquirer

Sources

2/2/2022

Acquired

$99M

4

9/7/2021

Acquired

$99M

3

7/20/2021

Acquired

$99M

3

3/26/2021

IPO

Subscribe to see more

$99M

Subscribe to see more

10

12/17/2020

Acquired

Subscribe to see more

$99M

Subscribe to see more

10

Date

2/2/2022

9/7/2021

7/20/2021

3/26/2021

12/17/2020

Exit

Acquired

Acquired

Acquired

IPO

Acquired

Companies

Subscribe to see more

Subscribe to see more

Valuation

$99M

$99M

$99M

$99M

$99M

Acquirer

Subscribe to see more

Subscribe to see more

Sources

4

3

3

10

10

WestRiver Group Fund History

17 Fund Histories

WestRiver Group has 17 funds, including WRG Energy Innovation II.

Closing Date

Fund

Fund Type

Status

Amount

Sources

11/20/2020

WRG Energy Innovation II

$32.5M

1

11/9/2020

WestRiver Equity Fund I

$95M

2

11/9/2020

WRG PNW Fund I

$32.95M

2

11/9/2020

WRG Healthcare Fund I

$99M

10

11/9/2020

WRG Experience Fund I

$99M

10

Closing Date

11/20/2020

11/9/2020

11/9/2020

11/9/2020

11/9/2020

Fund

WRG Energy Innovation II

WestRiver Equity Fund I

WRG PNW Fund I

WRG Healthcare Fund I

WRG Experience Fund I

Fund Type

Status

Amount

$32.5M

$95M

$32.95M

$99M

$99M

Sources

1

2

2

10

10

WestRiver Group Team

3 Team Members

WestRiver Group has 3 team members, including current Founder, Chief Executive Officer, Erik Anderson.

Name

Work History

Title

Status

Erik Anderson

Goldman Sachs, and Frazier Healthcare Partners

Founder, Chief Executive Officer

Current

George Montgomery

Managing Director

Former

Richelle Parham

Camden Partners, eBay, Visa, RAPP, and Citigroup

Managing Director

Former

Name

Erik Anderson

George Montgomery

Richelle Parham

Work History

Goldman Sachs, and Frazier Healthcare Partners

Camden Partners, eBay, Visa, RAPP, and Citigroup

Title

Founder, Chief Executive Officer

Managing Director

Managing Director

Status

Current

Former

Former

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