Krakow, Poland – 3 June 2020 – Ryvu Therapeutics (WSE:RVU), a clinical stage biopharmaceutical company developing novel small molecule therapies that address emerging targets in oncology, and a shareholder in NodThera, a biotechnology company focused on the discovery and development of next generation NLRP3 inflammasome inhibitors, announced today that NodThera has closed its Series B financing round for a total of £44.5 million ($54.5 million).
NodThera was founded by Epidarex Capital and Ryvu in 2016 based on world class research on NLRP3 inflammasome conducted at Ryvu (at that time Selvita) in 2012 -2016. The company focused on the development of inflammasome inhibitors has already raised over £80,8 million (over $100 million) in three funding series. After the full completion of Series B capital increase, Ryvu will own 4.8% in NodThera.
The Series B closing was led by leading healthcare investors Novo Holdings A/S, Cowen Healthcare Investments and Sanofi Ventures, with further participation of the existing investors, namely F-Prime Capital Partners, 5AM Ventures, Sofinnova Partners and Epidarex Capital.
NodThera is developing small molecule inhibitors of the NLRP3 inflammasome, a multi-protein complex which initiates an innate immune response in the body, for the treatment of diseases driven by chronic inflammation. NodThera’s next generation approach could bring new treatment options to patients in areas where current standard of care is sub-optimal or non-existent across a wide range of therapeutic areas related to chronic inflammation.
– “We are very excited for NodThera to welcome such experienced international group of investors on board. Selective NLRP3 inflammasome inhibition is one of the most exciting and promising strategies to tackle diseases caused by chronic inflammation, and NodThera is rising to be a pioneer in the inflammasome field” – comments Krzysztof Brzozka, PhD, Chief Scientific Officer at Ryvu. “At the same time, we couldn’t be more proud that research initiated at Ryvu laboratories in Krakow is having a great chance to be developed into therapy which could potentially help patients with a wide range of diseases” – added Brzozka.
NodThera is a biotechnology company focused on the discovery and development of next generation NLRP3 inflammasome inhibitors for the treatment of diseases driven by chronic inflammation. NodThera is building a pipeline of small molecule NLRP3 inhibitors through a highly differentiated, next generation approach that builds on and enhances existing understanding of NLRP3 biochemistry and its role in inflammation. The Company’s shareholders include Novo Holdings A/S, Cowen Healthcare Investments, Sanofi Ventures, Sofinnova Partners, 5AM Ventures, Epidarex Capital, F-Prime Capital Partners, Lilly and Ryvu, which spun the Company out of its immunology research platform in August 2016. For more information please visit: www.nodthera.com.