NodThera, a clinical stage biotechnology company developing a new class of medicines that inhibit the NLRP3 inflammasome to treat diseases driven by chronic inflammation, announced that it has secured $55 million in a Series B financing. The financing round was 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 from the financing will be used to advance lead candidate NT-0167 through clinical studies. A phase 1 clinical study for NT-0167 is currently underway, 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.
The funds will also be used to progress the development of additional compounds, including brain-penetrant NLRP3 inflammasome inhibitors for central nervous system indications, as well as 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.”