NeRRe Therapeutics pushes leads by €26m Series B financing

New investors besides Fountain Healthcare Partners included Forbion Capital Partners and Orbimed. Additionally existing investors Advent Life Sciences and Novo A/S participated in the £22.3m / €26m Series B round. “Now that we are fully funded to execute the next phase of development, everyone at the company is focused on moving orvepitant and NT-814 closer to the market,” said NeRRe Therapeutics’ CEO Mary Kerr.

The British drug maker currently has two neurokinin (NK) receptor antagonists for the treatment of common, chronic and debilitating conditions caused by neuronal hypersensitivity under clinical development. The funds will be used to generate Phase II data on the company's orally administered compound orvepitant as a potential new treatment for “a common, chronic respiratory condition”. Further plans foresee to advance NT-814, a dual NK-1,3 antagonist, into Phase II stage as  non-hormonal treatment of distressing post-menopausal vasomotor symptoms.

OrbiMed’s Iain Dukes, formerly Senior VP Business Development & Licensing at Merck & Co., said: “We have been impressed by NeRRe’s clear strategy, and are pleased to be involved in funding the company to deliver important Phase II clinical data on both of these exciting candidates. We look forward to supporting the company in achieving these aims.”

Mary Kerr, NeRRe’s CEO, said: “NeRRe is delighted to have attracted such a substantial investment from these high profile life sciences investors. Now that we are fully funded to execute the next phase of development, everyone at the company is focused on moving orvepitant and NT-814 closer to the market for the alleviation of these common, chronic and debilitating conditions.”