NodThera, a UK-based developer of treatments for diseases caused by chronic inflammation, which counts drug discovery services provider Selvita as a backer, completed a £28m ($37m) series A round on Monday.
Venture capital firms Sofinnova Partners and 5AM Ventures co-led the round, investing together with F-Prime Capital Partners, branch of investment and financial services group Fidelity, and Epidarex Capital, which provided seed capital for the company in 2016.
NodThera is working on therapies for inflammation-related diseases, and in particular an inhibitor that will target the inflammasome, which activates inflammatory responses. The company was spun out of Selvita’s immunology research platform in August 2016.
Alan Watt, NodThera’s chief scientific officer and acting CEO, said: “NodThera is committed to discovering and developing first-in-class molecules in our core disease areas, and working with the best partners in this space to address other chronic inflammation driven therapeutic areas.
“Together with our highly experienced management team, a strong scientific advisory board and the support of our international blue-chip investors, we are fully equipped to achieve our future goals.”
Henrijette Richter, managing partner of Sofinnova Partners, will join NodThera’s board of directors in conjunction with the round, along with Scott Rocklage, founding partner of 5AM Ventures.