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North Sea Therapeutics raises US$40m in Series B

Steatohepatitis © Nephron/commons.wikimedia.org/w/index.php?curid=7747223


by tg

NorthSea Therapeutics BV has raised US$40m to provide proof-of-concept of its NASH drug icosabutate.

Besides the completion of the ongoing Phase 2b ICONA study on icosabutate in safety and efficacy in NASH (Non-alcoholic Steatohepatitis), North Sea Therapeutics announced to push the development of two additional SEFA (Structural Engineered Fatty Acids) programmes into clinical development.

While new US investor venBio Partners led the Series B financing, and were joined by Sofinnova Investments, existing investors, Novo Seeds, Forbion, New Science Ventures (NSV) and BioGeneration Ventures (BGV) also participated in the round.

Icosabutate is a structurally enhanced omega-3 fatty acid molecule, which was originally tested to lower triglyceride levels but also showed a reduction in hepatic oxidative stress, according to Naarden-based North Sea Therapeutics.

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