Trevi Therapeutics, Inc., a New Haven, CT-based late-stage clinical development company, completed a $50.5m Series C financing.
The round was led by New Enterprise Associates (NEA) with participation from new investors Lundbeckfonden Ventures, Omega Funds and Aperture Venture Partners, along with largest existing investor TPG Biotech. In conjunction with the financing, David Meeker, MD, former CEO of Sanofi/Genzyme, will join Trevi’s Board of Directors as Chairman. In addition, Ed Mathers of NEA, Mette Kirstine Agger of Lundbeckfond, and Otello Stampacchia, PhD of Omega Funds will also join the Board.
The company plans to use the proceeds to advance the development of Nalbuphine® ER, a drug with a dual agonist/antagonist mechanism of action to treat itch associated in various dermatologic, metabolic, hematologic, and neuropathic conditions.
Founded in 2011 and led by Jennifer Good, President and CEO, Trevi Therapeutics focuses on developing Nalbuphine® ER for chronic pruritus (itch) pursuing two conditions for clinical development: prurigo nodularis and uremic pruritus.
Prurigo nodularis is a chronic pruritic dermatologic condition characterized by the presence of pruriginous lesions (excoriative/ulcerative papules and nodules) on the skin.
Uremic pruritus is a persistent and debilitating itch in patients on dialysis that has been associated with increased mortality. There are no approved therapies in the US or EU for either condition.
Nalbuphine® ER is an oral extended release synthetic opioid with a dual mechanism of action, mu receptor antagonist and kappa receptor agonist, both of which have been shown in research to be effective in abolishing itch.