Ireland-based biotechnology developer Inflazome closed a $17m series A round on Sunday that was co-led by Novartis Venture Fund, the investment arm of pharmaceutical firm Novartis, and VC fund Fountain Healthcare Partners.
Inflazome is developing therapies for a range of conditions caused by chronic inflammation, such as asthma or Parkinson’s disease. The treatments use inhibitors of the inflammasome, a part of the human immune system responsible for activating inflammatory processes.
The technology is based on research conducted by co-founders Matt Cooper, professor at Queensland University, and Luke O’Neill, professor at Trinity College Dublin. Inflazome was spun out by Queensland’s commercialisation arm, UniQuest.
Florent Gros, managing director at Novartis Venture Fund, and Manus Rogan, co-founder and managing director at Fountain Healthcare Partners, have joined Inflamazione’s board of directors.
Gros said: “We have searched extensively for inhibitors of the inflammasome. We are very excited by Inflazome’s prospects; the company has outstanding assets, expertise and capabilities.”