Nuvig Therapeutics, a Menlo Park, CA-based privately held biotechnology company developing novel immunomodulatory therapeutics for patients with inflammatory autoimmune diseases, raised $161M in Series B funding.
The round was led by Sanofi Ventures, Blue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments), and Norwest Venture Partners, with participation from new investors, B Capital, Leaps by Bayer, Global BioAccess Fund, LOTTE Holdings, Alexandria Venture Investments, and funds managed by abrdn Inc., and existing shareholders, Novo Holdings A/S, Platanus, Bristol Myers Squibb, Digitalis Ventures, and Mission BioCapital.
In conjunction with the financing, Paulina Hill, Ph.D., Partner at Sanofi Ventures, Tim Anderson, Managing Director at Blue Owl Healthcare Opportunities, and Tiba Aynechi, Ph.D., General Partner at Norwest Venture Partners, joined Nuvig’s Board of Directors.
The company intends to use the funds to support clinical proof-of-concept studies for NVG-2089 and advance its preclinical pipeline.
Led by Pamela Conley, Ph.D., Cofounder, Chief Scientific Officer, and founding Chief Executive Officer, Nuvig Therapeutics is a clinical-stage biotechnology company that is advancing an innovative pipeline of novel immune therapeutics for chronic inflammatory and autoimmune diseases. The company’s lead investigational drug candidate, NVG-2089, is an engineered Fc fragment designed to precisely target type II Fc receptors. When NVG-2089 binds to its target, it upregulates the expression of FcγRIIb and causes the expansion of T regulatory cells and the downregulation of numerous inflammatory pathways.
In addition, Nuvig also appointed as independent members of the Nuvig Board of Directors: Ciara Kennedy, Ph.D., founder, President, and CEO of Sorriso Pharmaceuticals, and James Mackay, Ph.D., who most recently was the founder, President, and CEO of Aristea Therapeutics and currently serves as the founder and CEO of Kateran Consulting.
FinSMEs
05/12/2024