NodThera bags £28m to help treat chronic diseases
NodThera has received a vital boost for its work in areas of chronic inflammatory disease such as neurogenerative disease and cancer.
The biotech company has closed its Series A financing round for a total of £28 million ($40 million). Using the funds it will boost its work helping discover and develop treatment for diseases driven by chronic inflammation.
The Series A second closing was co-led by leading healthcare investors Sofinnova Partners and 5AM Ventures, with Epidarex Capital and F-Prime Capital Partners also getting involved.
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 company's strategy is attempting to tackle unmet medical needs in areas such as neurodegenerative diseases and certain cancers.
Henrijette Richter, managing partner of Sofinnova Partners and Scott Rocklage, founding partner of 5AM Ventures will both join the company's board of directors, with Richter also serving as chair.
"Selective NLRP3 inflammasome inhibition represents one of the most exciting and promising approaches to treating diseases caused by chronic inflammation,” said NodThera acting chief executive Alan Watt.
"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."
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.