Latigo closes $150m Series B for non-opioid pain medicines
Funds managed by Blue Owl Capital led the round supporting clinical Nav1.8 inhibitor programs.
Latigo Biotherapeutics announced the closing of its $150 million Series B on March 17, 2025. Funds managed by Blue Owl Capital led the financing, with new healthcare investors and returning backers participating.
The proceeds support clinical development of its Nav1.8 inhibitor programs and a broader non-opioid pain pipeline. Lead candidate LTG-001 targets acute pain, while LTG-305 is being developed for chronic pain.
Blue Owl senior managing director Kevin Raidy joined Latigo’s board in connection with the financing. The company is developing medicines intended to interrupt pain signaling through a mechanism distinct from opioids.
Use of funds
Advance Nav1.8 inhibitor clinical programs and the broader non-opioid pain pipeline