Trevi Therapeutics, Inc., a New Haven, CT-based development-stage biotechnology company developing Nalbuphine ER for severe chronic pruritus conditions, held the second and final closing of $11m in its previously announced Series B financing of $26m (read here).
The round was led by TPG Biotech, the life science venture investment arm of TPG, and existing angel investors.
The company is continuing enrollment in the U.S. for its uremic pruritus trial, a pivotal study expected to enroll approximately 360 patients, and expects to initiate enrollment at European sites for this study by year-end. It also anticipates initiating a pivotal trial in prurigo nodularis this quarter.
Founded in 2011 and led by Jennifer L. Good, President and Chief Executive Officer, Trevi focuses on developing Nalbuphine ER for chronic pruritus (itch), an oral extended release opioid. The company is pursuing two conditions for clinical development: uremic pruritus and prurigo nodularis. Uremic pruritus is a persistent and debilitating itch in patients on dialysis that has been associated with increased mortality. Prurigo nodularis is a chronic dermatologic condition characterized by severely pruritic nodules on the skin that are independent of underlying etiology.
There are no approved therapies in the US or EU for either condition.