NeRRe Therapeutics, a Stevenage, England, UK-based clinical-stage company, raised £23m in Series B financing.
The round was led by new investor Fountain Healthcare Partners, and co-led by Forbion Capital Partners and OrbiMed. Existing investors, Advent Life Sciences and Novo A/S also participated. In conjunction with the funding, Dr Ena Prosser, Partner at Fountain Healthcare Partners; Geert-Jan Mulder MD, General Partner at Forbion Capital Partners; and Dr Iain Dukes, Venture Partner at OrbiMed will join the NeRRe Board of Directors.
The company intends to use the funds to generate Phase 2 data on orvepitant, its lead oral NK-1 antagonist candidate as a potential new treatment for a common, chronic respiratory condition; and to advance NT-814, a dual NK-1,3 antagonist, into Phase 2 trials as a potential non-hormonal treatment of distressing post-menopausal vasomotor symptoms.
Led by Mary Kerr, CEO, and and Dr Mike Trower, CSO/COO, NeRRe Therapeutics focuses on the development of its portfolio of NK receptor antagonists for the treatment of common, chronic and debilitating conditions caused by neuronal hypersensitivity.
The company was founded in 2012 as a spin out from GSK, which transferred to it its NK antagonist portfolio, including clinical data, toxicity, safety and formulation packages, and all associated IP.
NeRRe is based at the Stevenage Bioscience Catalyst, the UK’s first open innovation bioscience campus.