Alto Neuroscience, a psychiatric medication development company, secured $60 million in series B funding and entered a $35 million credit facility with K2 HealthVentures.
Investment company Alpha Wave led the most recent funding round, contributing $25 million, bringing Alto's total series B funding to $60 million, according to a Jan. 30 news release from the company. It intends to use the additional $35 million credit facility from K2 HealthVentures as it furthers clinical development of treatments.
Alto works to use genetics, data and brain activity to match patients' most effective psychiatric treatment and develops drugs for depression, post-traumatic stress disorder and other mental health conditions, according to the release.