Ireland-based Inflazome, a biotechnology company developing drugs to block harmful inflammation, has closed a €40m ($45.6m) series B round featuring Novartis Venture Fund, an investment arm of pharmaceutical firm Novartis.
The round was led by venture capital firm Forbion Capital Partners and included Longitude Capital and Fountain Healthcare Partners. The latter had co-led the company’s $17m series A round with Novartis Venture Fund in 2016.
Inflazome is developing therapies to tackle medical conditions caused by inflammation, such as neurological disorders like Alzheimer’s and Parkinson’s, as well as inflammatory bowel disease, gout, osteoarthritis, liver, kidney and cardiovascular diseases.
The company is working on inhibitors of the body’s NLRP3 inflammasome, which helps to regulate its immune response, and plans to advance multiple drug candidates into clinical trials in 2019.
Matt Cooper, Inflazome’s co-founder and chief executive, said: “We are very pleased to have secured a partnership with leading EU and US investors Forbion and Longitude and additional support from our founding investors, Novartis Venture Fund and Fountain Healthcare Partners.”
Forbion general partner Marco Boorsma has joined the company’s board of directors in conjunction with the round, along with David Hirsch, the founder and managing director of Longitude Capital.