Nutrinia, Ltd., a Ramat-Gan, Israel-based developer of a proprietary oral formulation of insulin for intestinal malabsorption in preterm newborns and Short Bowel Syndrome (SBS) in infants, closed a $30m Series D financing.
The round was led by TPG Biotech, with participation from H.I.G. BioHealth Partners and WuXi Healthcare Ventures, as well as existing investors OrbiMed, Pontifax and others. In conjunction with the investment, Eran Nadav, Ph.D., Partner and Managing Director at TPG Biotech, will join Nutrinia’s Board of Directors, as will Aaron Davidson, Co-head and Managing Director of H.I.G. BioHealth Partners.
The company intends to use the funds to initiate two pivotal trials for registration in separate indications related to acceleration of gut maturation and adaptation: intestinal malabsorption in preterm newborns born between 26 and 32 weeks’ gestational age, and infants with SBS who are under 12 months old.
Led by Miki Olshansky, Chief Executive Officer, Nutrinia is a clinical stage biotechnology company focused on developing a proprietary oral formulation of insulin for gastrointestinal indications in infants. The company’s oral formulation of insulin is locally acting, and stable at room temperature, rapidly dissolving into saline, formula or breast milk, and designed for administration through the plastic tubing used in enteral feeding as well as simply orally.
Nutrinia has US operations based out of Morristown, NJ.
FinSMEs
18/08/2016