NeRRe Therapeutics raises £20m Series B2 cash
NeRRe Therapeutics in Stevenage has raised an additional £20 million Series B2 round from global investors to further exploit its technology worldwide.
The clinical-stage company is developing orvepitant, its wholly-owned neurokinin-1 (NK-1) antagonist, as a first in class treatment for disabling chronic cough caused by reflex hypersensitivity disorders.
NeRRe has already demonstrated proof of efficacy in patients with refractory or unexplained chronic cough. It will now continue the clinical development of orvepitant in chronic cough caused by IPF, a rare type of interstitial lung disease.
A dominant symptom of this severe progressive fibrotic pulmonary disease, in a high proportion of these terminally ill patients, is an uncontrolled, persistent and disabling cough.
The chronic cough can markedly reduce quality of life, is often refractory to medical therapy and there are no approved treatments for iti. Idiopathic pulmonary fibrosis is recognised as an orphan disease in both Europe and the US.
The financing round involved a syndicate of leading transatlantic life sciences investors led by new backer Columbus Venture Partners and existing ones Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners, OrbiMed and the UK Government’s Future Fund.
The proceeds will primarily be used to fund the Phase 2 clinical development of orvepitant as a treatment for chronic cough associated with IPF. Preparation for the start of the Phase 2 trial is underway.
Dr Mary Kerr, CEO of NeRRe Therapeutics, said: “After demonstrating that orvepitant reduces the burden of chronic cough in one population, we are delighted to have received the financial support to further advance this promising asset for patients suffering from chronic cough associated with IPF.
“I am also pleased to welcome Columbus Venture Partners to the syndicate and would like to thank our existing investors for their continued support of the NeRRe team and this exciting first-in-class asset.”