Congratulations to Latigo Biotherapeutics on its IPO!

On August 7, 2026, Corner's portfolio company Latigo Biotherapeutics listed on the Nasdaq Global Select Market (Symbol: LTGO). The offering was upsized from $300.0 million to $345.6 million in gross proceeds off the back of strong investor demand.

Latigo has built an innovative, non-opioid pain medicine that targets the Nav1.8 sodium channel. This new class of drug blocks pain at the nerve rather than in the brain by selectively inhibiting the Nav1.8 channel. By targeting the nerve, these types of drugs can provide relief from serious pain without the risk of addiction that has plagued opioids. Latigo's lead drug, LTG-001, is built to target acute pain after surgery or injury, two common routes for introducing patients to opioids. This nascent category has room for continued growth.

Latigo has been led by its CEO Nima Farzan, who took Kinnate public and sold it to Xoma before joining Latigo in 2024. Latigo was created by Westlake BioPartners and built by an impressive team, many from Amgen's neuroscience group.

Corner had the privilege of investing in Latigo in the summer of 2020, and supported the Company through later rounds, reflecting our conviction that better, less addictive pain medication is one of the most urgent issues in healthcare today.

We look forward to Latigo's continued growth, including the release of its highly successful Phase 3 trial for LTG-001, as the company advances its non-opioid medicines for acute and chronic pain. This is vital work, and we are excited to celebrate this incredible milestone with the Latigo team.

Congratulations to everyone at Latigo!