Altitude Lab Portfolio Companies Surpass $205 Million in Funding, Marking a New Era for Early-Stage Biotechs in Salt Lake City

Altitude Lab, a Salt Lake City-based biotech startup accelerator founded by Dr. Joshua Schiffman, announced its portfolio companies have collectively secured over $205 million in funding, marking a milestone for early-stage biotechs in the region. The accelerator’s inaugural cohort, including Peel Therapeutics and Rebel Medicine, raised Series A rounds in 2025, accelerating clinical development and solidifying Salt Lake City’s role in the biotech industry. Peel Therapeutics closed a fully subscribed $20 million Series A, with proceeds supporting Phase 1B/2 trials for its lead asset, PEEL-224, an optimized TOP1 inhibitor. Early trial results showed a 68% disease control rate with limited GI toxicity in heavily pre-treated solid tumor patients. The company is now advancing studies in metastatic colorectal cancer and pediatric solid tumors. Rebel Medicine raised $7.5 million in Series A funding and received FDA IND clearance for Alevatrix, a long-acting bupivacaine reformulation designed to provide up to 72 hours of non-opioid pain relief. The company is conducting its first-in-human Phase 2 trial to evaluate Alevatrix as an opioid-sparing therapy. Leash Bio signed a multi-target agreement with Monte Rosa Therapeutics to accelerate the discovery of degraders for difficult-to-drug targets. The partnership leverages Leash’s platform, which has identified tractable compounds for over 500 targets, streamlining the development process. Intactis Bio raised $250K from the Nucleus Fund and achieved a breakthrough with lab-grown neurons derived from iPSCs. These neurons successfully encoded and decoded language and math operations while demonstrating continuous learning, offering a structural advantage over traditional GPUs. Sethera Therapeutics entered negotiations for a highly competitive CDMRP Breast Cancer Research Program Breakthrough Award and expanded its Scientific Advisory Board with a Nobel Laureate in Physiology or Medicine. The company continues to strengthen its research focus with advisors including Jeffery W. Kelly and Alexander M. Klibanov. 3Helix partnered with BASF to launch NeoHelix™ Regenerate, a precision peptide inspired by its collagen-hybridizing peptide technology. Clinical studies showed a 41% reduction in damaged collagen and a 65% increase in hyaluronic acid levels after 56 days, highlighting the potential of its proprietary approach. Altitude Lab’s success underscores the growing influence of Salt Lake City’s biotech ecosystem, with its portfolio companies driving innovation across oncology, pain management, neuroscience, and regenerative medicine.