NodThera $55m Series B bears out CEO’s forecast
When life science powerhouse Dr Adam Keeney became NodThera CEO in September 2018 he said the company had all the credentials to become a world beater.
On the back of the June 3 $55 million (£44m) Series B, Dr Keeney’s crystal ball is in mint condition.
NodThera, based at Chesterford Research Park, is a private biotech focused on the discovery and development of next generation NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation.
The Series B was led by Novo Holdings and included 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.
The cash will support advancement of the company’s pipeline of small molecule NLRP3 inflammasome inhibitors, including continued progression of NT-0167 through clinical development. NodThera’s lead candidate, NT-0167, is being evaluated in a Phase 1 clinical trial in healthy volunteers.
Dr Keeney told Business Weekly when he took the reins after more than 20 years in global pharma: “Selective NLRP3 inflammasome inhibition is one of the most promising areas to treat diseases caused by chronic inflammation. I believe that NodThera’s next generation approach has the potential to bring new treatment options to patients across a wide range of therapeutic areas.
“With offices in both the UK and the US, NodThera is establishing a truly global business, well positioned to push the frontiers of inflammation research with access to the very best talent in the field.”
After the June 3 Series B raise, he added: “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.
“This financing from a world-class syndicate of life science investors speaks to the significant potential of our pipeline.”