Arrivo BioVentures, a Morrisville, NC-based biopharmaceutical company, raised $45M in Series B funding.
The round, which brought the total amount to $100M, was led by Orlando Health Ventures with participation from Solas BioVentures Emerging Healthcare Fund, Rex Health Ventures, and several private investors.
Led by CEO Steve Butts, Arrivo BioVentures is a biopharmaceutical company focused on developing biologics and small molecules to improve patient lives. Its model allows to look for potential products that offer improvements in patient care across many different therapeutic areas.
The company intends to use the funds to advance its first-in-class treatment for major depressive disorder (MDD), SP-624, through the completion of a Phase 2b/3 clinical trial and complete a Phase 2 Proof-of-Concept study with its novel treatment to prevent patients with pancreatitis advancing to severe acute pancreatitis, RABI-767.
SP-624 is a small molecule that selectively activates the SIRT6 enzyme, a novel epigenetic mechanism known to modulate gene expression, metabolism and DNA repair.
RABI-767 is a small molecule inhibitor of pancreatic lipase being developed for the treatment of predicted severe acute pancreatitis.
FinSMEs
29/11/2023