US-based pharmaceutical company Navitor Pharmaceuticals has raised $23.5m in series A funding from Johnson & Johnson Development Corporation and SR One, the respective corporate venturing subsidiaries of Johnson & Johnson and GlaxoSmithKline.
Venture capital firms Polaris Partners, Atlas Venture, and The Longevity Fund also contributed to the round. The proceeds will be used to further augment Navitor’s research tools and accelerate development of its pipeline drugs.
Founded in 2009 as Caloric Pharmaceuticals by Polaris partner Alan Crane, Navitor possesses intellectual property and proprietary technology which it is using to research drugs that target cellular nutrient signalling in order to address metabolic, neurodegenerative, autoimmune and musculoskeletal diseases.
As Caloric, Navitor recieved $10.2m in seed financing from Polaris and other, undisclosed investors in October 2013.