Menlo Therapeutics, Inc., a Menlo Park, Calif.-based clinical stage pharmaceutical company, raised $50M in Series C financing.
The round was led by venBio with participation from new investors Novo Holdings A/S, Rock Springs Capital, Aisling Capital, and Bay City Capital and existing investors Vivo Capital, Presidio Partners, Remeditex, and F-Prime Capital. In conjunction with the funding, Aaron Royston, MD, of venBio, will join the Menlo Therapeutics Board of Directors.
The company intends to use the funds to advance development of serlopitant, a novel NK-1 receptor antagonist, as a once-daily oral treatment for pruritus (itch) associated with atopic dermatitis, psoriasis and prurigo nodularis and for treatment of refractory chronic cough.
Menlo Therapeutics is a clinical stage pharmaceutical company dedicated to the development of serlopitant, a once-daily oral NK-1 receptor antagonist, for the treatment of chronic pruritus and chronic cough. Serlopitant is an investigational drug currently in development as a once-daily oral tablet for the treatment of patients with chronic pruritus. This funding round follows the completion of two phase 2 clinical trials:
– TCP-101 evaluated subjects with chronic pruritus from multiple underlying causes, and
– TCP-102 studied subjects with chronic pruritus associated with prurigo nodularis.