Mirum Pharmaceuticals, a San Diego, CA-based clinical-stage therapeutics company, secured $120m in Series A financing.
The round was led by New Enterprise Associates (NEA) with participation from Deerfield Management, Frazier Healthcare Partners, Novo Holdings A/S, Pappas Capital, RiverVest Venture Partners and Rock Springs Capital.
In conjunction with the funding, Mirum’s board of directors appointed:
– Ed Mathers, partner NEA;
– Patrick Heron, managing general partner, Frazier Healthcare Partners;
– Jonathan Leff, partner, Deerfield;
– Tiba Aynechi, Ph.D., partner, Novo Ventures; and
– Niall O’Donnell, Ph.D., managing director, RiverVest.
The company intends to use the funds for continued development of its lead drug candidate maralixibat for rare cholestatic liver diseases.
Led by Mike Grey, chairman and CEO, Chris Peetz, president, Vig, Ph.D., chief scientific officer, Lara Longpre chief development officer, Shelly Xiong, Ph.D., senior vice president of regulatory, Mirum Pharmaceuticals is a clinical-stage therapeutics company developing a novel approach for treating cholestatic liver diseases, with an immediate focus on rare pediatric conditions. The company’s lead product candidate, maralixibat, is a Phase 3-ready investigational oral drug with an established safety profile and efficacy data in several indications, including Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).
Mirum has entered into an agreement with Shire for the exclusive global rights to develop and market maralixibat, an oral inhibitor of the apical sodium dependent bile acid transporter (ASBT). Shire will receive an upfront payment, an equity position in the company and potential future milestone payments and royalties. Maralixibat is being developed for Alagille syndrome (ALGS) and progressive familial intrahepatic cholestasis (PFIC).