NodThera secures £28 million ($40 million) Series A Financing
– NodThera discovers and develops next generation NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation
Cambridge, UK, 25 June 2018 – NodThera, a biotechnology company focused on the discovery and development of next generation NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation, today announces it has closed its Series A financing round for a total of £28 million ($40 million). The Series A second closing was co-led by leading healthcare investors Sofinnova Partners and 5AM Ventures, with further participation from Epidarex Capital and F-Prime Capital Partners. NodThera was created and seed funded by life science investor, Epidarex Capital in 2016 based on earlier research conducted at Selvita, a Polish drug discovery company which remains a shareholder in NodThera. Henrijette Richter, PhD, Managing Partner of Sofinnova Partners and Scott Rocklage, PhD, Founding Partner of 5AM Ventures will both join the Board of Directors with Henrijette Richter additionally serving as Chair.
Alan Watt PhD MBA, Chief Scientific Officer and acting Chief Executive Officer, said: “Selective NLRP3 inflammasome inhibition represents one of the most exciting and promising approaches to treating diseases caused by chronic inflammation. We believe this approach has the potential to transform the treatment of patients suffering from these diseases where there are limited or no treatment options available. NodThera is committed to discovering and developing first-in-class molecules in our core disease areas, and working with the best partners in this space to address other chronic inflammation driven therapeutic areas. Together with our highly experienced management team, a strong scientific advisory board and the support of our international blue-chip investors, we are fully equipped to achieve our future goals.”
NodThera is developing small molecule inhibitors of the NLRP3 inflammasome, a multi-protein complex which initiates an innate immune response in the body. NodThera’s next generation approach could bring new treatment options to patients in areas where current standard of care is sub-optimal or non-existent across a wide range of therapeutic areas related to chronic inflammation. The NodThera strategy is to develop its leading drug candidate through to proof-of-concept in humans in an inflammatory disease and to bring forward further drug candidates specifically addressing high unmet medical needs such as neurodegenerative diseases and certain cancers. NodThera’s team combines a deep understanding of NLRP3 inflammasome inhibition with extensive pharmaceutical experience of drug discovery and development and is supported by a world-class team of scientific advisors.
Henrijette Richter PhD, Managing Partner, Sofinnova Partners and Chair of the Board of Directors said: “We are excited to invest in NodThera who we believe have the ability to address a wide range of disease areas related to chronic inflammation. We are pleased to have co-led this next chapter in NodThera’s development and look forward to supporting the management team as it establishes NodThera as a world-leader in NLRP3 inflammasome inhibition.”
Elizabeth Roper PhD, Partner, Epidarex Capital, said: “Since its inception, we saw the potential for NodThera to become a pioneer in the NLRP3 inflammasome space with the right approach to produce ground breaking products targeting multiple therapeutics areas. We are delighted to welcome such an experienced and international group of investors into the Company and believe this is strong validation of NodThera’s ambitions.”