TPG Biotech, the life science venture unit of private equity firm TPG, has invested in a $10m round raised by Trevi Therapeutics, a US-based drug development company which treats itch condition, uremic pruritus.
TPG Biotech invested in the series A round having also backed the company’s seed round. Trevi also previously received funding from angel investors. New Haven, Connecticut-based Trevi was founded in 2011, and it is developing its drug T111 for the severe chronic itching condition.
Trevi says there are “no approved drug therapies for the treatment of uremic pruritus in the US or Europe.”
Eran Nadav, managing director at TPG Biotech, said: “TPG is delighted to back the Trevi team. The potential of T111 to relieve pruritus is supported by solid scientific data, and we believe it represents an interesting market opportunity.”
Trevi’s founders Jennifer Good and Thomas Sciascia previously were the executive management team at Penwest Pharmaceuticals.
Alongside Good on Trevi’s board are Nadav and Cayce Denton, from TPG Biotech.