Trevi Therapeutics, Inc., a New Haven, CT-based clinical stage biotechnology company developing Nalbuphine ER for chronic pruritus conditions, raised $25m in Series B financing.
The round was led by TPG Biotech, with $15m funded at first closing.
The company plans to use the funding for the initiation of pivotal trials in two severe itch conditions: uremic pruritus and prurigo nodularis.
Founded in 2011 and led by Jennifer L. Good, President and Chief Executive Officer, Trevi recently released data from its completed Phase 1 trial in which Nalbuphine ER – Nalbuphine ER is an oral extended release opioid – was shown to be well tolerated in patients on hemodialysis with itch and established proof-of-concept in uremic pruritus. The company intends to initiate both pivotal trials in the third quarter of this year, and expects to have top-line results in the second half of 2015.
FinSMEs
04/06/2014