Log in
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 

MarketScreener Homepage  >  News  >  Companies  >  All News

News : Companies
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors

NodThera : Announces Close of $55 Million Series B Financing

share with twitter share with LinkedIn share with facebook
share via e-mail
06/03/2020 | 03:31am EDT

Financing round led by Novo Ventures and includes new investors Cowen Healthcare Investments and Sanofi Ventures, as well as existing investors 5AM Ventures, F-Prime Capital, Sofinnova Partners and founding investor Epidarex Capital

Proceeds to support advancement of pipeline of small molecule NLRP3 inflammasome inhibitors, including continued progression of NT-0167 through clinical development

NodThera, a clinical stage biotechnology company developing a new class of medicines that inhibit the NLRP3 inflammasome to treat diseases driven by chronic inflammation, today announced that it has secured $55 million (£44 million) in a Series B financing. NodThera’s lead candidate, NT-0167, is being evaluated in a Phase 1 clinical trial in healthy volunteers.

“Millions of people live with diseases in which chronic inflammation plays a role,” said Nanna Lüneborg, Partner, Novo Ventures. “NodThera’s approach to selectively target the NLRP3 inflammasome without broadly suppressing the immune system is an enormously promising strategy for developing therapies that can help these patients.”

Proceeds from the financing will be used to advance NT-0167 through clinical studies, further progress the development of additional compounds — including brain-penetrant NLRP3 inflammasome inhibitors for central nervous system indications — and continued drug discovery efforts.

“The NLRP3 inflammasome is one of the most exciting emerging areas of drug discovery. Therapeutics that disrupt the NLRP3 inflammasome to inhibit damaging inflammatory processes have the potential to help patients with many chronic diseases,” said Henrijette Richter, Managing Partner at Sofinnova Partners. “NodThera has distinguished their science in a field that holds huge promise and we look forward to the company’s further progress.”

The first-in-human clinical study for NT-0167 is evaluating the candidate for safety and tolerability as well as pharmacokinetic and pharmacodynamic response. In preclinical studies, NT-0167 demonstrated potent and selective inhibition of the NLRP3 inflammasome resulting in reductions of IL-1β and IL-18, pro-inflammatory cytokines which are known to play a key role in chronic inflammation underlying a wide range of diseases.

“Continued advancement of our lead molecule through clinical development represents a significant achievement in our work to exploit the still untapped therapeutic potential of selectively targeting the NLRP3 inflammasome,” said Adam Keeney, President and Chief Executive Officer of NodThera. “This financing from a world-class syndicate of life science investors speaks to the significant potential of our pipeline.”

Joining the NodThera Board as part of this Series B financing will be Nanna Lüneborg, Partner at Novo Ventures, Kevin Raidy, Managing Partner at Cowen Healthcare Investments and Alex Pasteur, Partner at F-Prime Capital.

About NodThera

NodThera is a biotechnology company developing a new class of potent and selective NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation. Led by an experienced management team, NodThera is leveraging new insights into inflammasome biology and chemistry to build a platform of highly differentiated small molecule NLRP3 inhibitors. The company was founded by Epidarex Capital and further financed by 5AM Ventures, Cowen Healthcare Investments, F-Prime Capital, Novo Ventures, Sanofi Ventures and Sofinnova Partners. NodThera maintains offices in Cambridge, UK, Seattle, WA and Boston, MA.

For more information please visit www.nodthera.com.

© Business Wire 2020
share with twitter share with LinkedIn share with facebook
share via e-mail
Latest news "Companies"
05:59pFOUR CORNERS PROPERTY TRUST : FCPT Announces Acquisition of a Caliber Collision Property for $1.8 Million
05:57pNEVADA COPPER : Provides Update on Public Offering and Announces Filing of Preliminary Prospectus
05:57pBOYD GAMING CORPORATION : Commences Exchange Offer For 4.750% Senior Notes Due 2027
05:56pTORCHMARK : July 15, 2020 - Globe Life Inc. Announces Second Quarter 2020 Earnings Release and Conference Call
05:55pVALENS : Reports Financial Results for the Second Quarter of Fiscal 2020
05:55pTESLA : Biden, Gates, other Twitter accounts hacked in Bitcoin scam
05:54pCytoDyn Files Application with Nasdaq for Uplist
Latest news "Companies"