WuXi Healthcare Ventures, a strategic investment subsidiary of pharmaceutical company WuXi PharmaTech, participated in a $30m series D round for Israel-based digestible insulin formulation developer Nutrinia today.
TPG Biotech, the life science investment branch of alternative asset management firm TPG, led the round, which included HIG BioHealth Partners, a subsidiary of private equity firm HIG Capital, as well as investment firm OrbiMed and venture capital firm Pontifax.
Nutrinia is developing an oral insulin formulation to treat intestinal malabsorption in preterm newborns and short bowel syndrome (SBS) in infants.
The series D cash will fund trials for registration in intestinal malabsorption in premature babies born between 26 and 32 weeks’ gestational age, and SBS in infants under one year old.
Miki Olshansky, chief executive of Nutrinia, said: “We are beginning two trials in the US and Europe that will provide robust data as to the safety and efficacy of our proprietary oral formulation of insulin, and if successful, provide a direct path to registration.
“These are orphan indications that affect fragile populations with high levels of unmet medical need.”
Pontifax, OrbiMed, and Jacobs Investments previously invested $12m in Nutrinia in 2014, according to Israeli business daily Globes. It had raised $1.1m in 2008 from food product and animal feed producer Maabarot Products, Jacobs and undisclosed angel investors to take its total funding to $3m.