Naia Limited, an international drug development company, raised $5.3m in Series A financing.
The round was led by existing investor and strategic partner Pharco Pharmaceuticals with participation from members of the management team of The Trout Group.
The company intends to use the funds to continue to invest in its subsidiaries and their portfolio of therapeutic approaches, including a program focused on the treatment of SBS, an orphan indication.
Led by H. Daniel Perez, M.D., co-founder, chairman and chief executive officer, Naia Limited is an international drug development company with subsidiaries developing innovative, clinical-stage compounds for short bowel syndrome (SBS), non-alcoholic steatohepatitis (NASH) and Type 2 diabetes.
Naia’s operating Subsidiary, Naia Rare Diseases, has in-licensing agreements with Amunix Operating Inc. for its GLP-1 and GLP-2 XTEN™ receptor agonist product candidates and a licensing agreement with Cedars-Sinai Medical Center in Los Angeles for a use patent for GLP-1. These compounds are being developed for patients with Short Bowel Syndrome. A second Subsidiary, Naia Metabolic, is developing clinical compounds to treat Type 2 diabetes, and NASH.
The company’s operating structure includes a Cayman Island-based management company and several holding companies that focus on development activities of like assets.