SiteOne Therapeutics, a San Francisco, CA-based biopharmaceutical company developing selective ion channel modulators for the treatment of pain, cough, and other conditions, raised $100M in Series C funding.
The round was led by Novo Holdings, with participation from OrbiMed, Wellington Management, Mission BioCapital, BSQUARED Capital, and existing investors
The company intends to use the funds for the advancement of its portfolio of selective, small molecule ion channel modulators for the treatment of sensory hyperexcitability disorders through human clinical proof of concept.
Led by CEO John Mulcahy, SiteOne Therapeutics is a biopharmaceutical company advancing a novel class of highly selective small molecule inhibitors targeting NaV1.7, NaV1.8, and other voltage-gated ion channels to treat sensory hyperexcitability disorders such as chronic cough, itch, and pain. Since its inception, SiteOne has been dedicated to the development of safe and effective pain therapeutics without the significant addiction potential and side effects of opioids. The company is also advancing additional novel drug candidates that exhibit precise selectivity for individual ion channel subtypes to treat other sensory hyperexcitability disorders such as chronic cough and chronic ocular surface pain.
In conjunction with the financing, SiteOne Therapeutics appointed to its Board of Directors: Ken Harrison, Ph.D., Senior Partner at Novo Holdings; Mona Ashiya, Ph.D., Partner at OrbiMed; and Zach Collins, Ph.D., Partner at Mission BioCapital. In addition, Praveen Tipirneni, M.D., most recently CEO of Morphic Therapeutic, has joined the Board as Executive Chairperson, and Martin Edwards, M.D., an experienced life science advisor, has joined as an independent Board member.
FinSMEs
18/12/2024