US-based inflammatory disease therapy developer Aristea Therapeutics has raised $15m in series A funding from pharmaceutical firm Novo Holdings.
Founded in 2018, Aristea Therapeutics has been formed to advance a pipeline of therapeutic candidates targeting serious inflammatory diseases. Its lead product candidate, RIST4721, is expected to begin phase 2 trials in early 2019.
The company is helmed by James Mackay, formerly a global product vice-president at AstraZeneca, the pharmaceutical company from which Aristea has licensed the rights to RIST4721.
Mackay said: “We believe that this approach, coupled with the financial support from Novo Holdings, and our proven track record in drug development, will give Aristea a significant advantage in building a valuable pipeline.”
Kenneth Harrison, principal of Novo Ventures, a corporate venturing vehicle for Novo Holdings, will join Aristea’s board of directors alongside Novo Ventures partner Tiba Aynechi.
Aynechi said: “We are very pleased to be backing an experienced team with deep insight into the lead program. We look forward to supporting them as they develop a drug that can meaningfully improve the lives of patients with conditions for which there are no approved therapies today.”