Novo Ventures leads $55m series-B round for NodThera
Novo Ventures has led a $55m series-B financing round for NodThera, a UK- and US-based clinical stage biotechnology company.
The round included new investors Cowen Healthcare Investments and Sanofi Ventures, as well as existing healthcare investors 5AM Ventures, Epidarex Capital, F-Prime Capital Partners and Sofinnova Partners.
As part of the deal, Nanna Lüneborg, partner at Novo Ventures, will join the NodThera board.
The company, which has so far raised $95m over two funding rounds, is currently looking into anti-inflammatory targets called NLRP3 inflammasome, and is developing a new class of medicines that inhibit NLRP3 to treat diseases driven by chronic inflammation.
The financing will support the further development of these medicines, as well as the progression of its medicine NT-0167 through clinical development.
Previous funding
In June 2018, NodThera raised $40m in a series-A round co-led by Sofinnova and 5AM Ventures, with further participation from Epidarex and F-Prime.
Company
Founded in 2016 by Epidarex Capital and based in Cambridge, NodThera is a biotechnology company focused on the discovery and development of NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation. The company also has offices in Seattle and Boston. According to its LinkedIn page, it employs 11-50 staff.
People
NodThera – Adam Keeney (president, CEO).
Novo Ventures – Nanna Lüneborg, Naveed Siddiqi (partners).
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