NeRRe Therapeutics raises £20m in a Series B2 financing round
NeRRe Therapeutics, a clinical-stage company developing orvepitant, its wholly-owned neurokinin-1 antagonist, as a first in class treatment for disabling chronic cough caused by reflex hypersensitivity disorders, today announces it has raised an additional £20m in a Series B2 financing round.
Having demonstrated proof of efficacy in patients with refractory or unexplained chronic cough, NeRRe will now continue the clinical development of orvepitant in chronic cough caused by IPF, a rare type of interstitial lung disease. A dominant symptom of this severe progressive fibrotic pulmonary disease, in a high proportion of these terminally ill patients, is an uncontrolled, persistent, and disabling cough.
The chronic cough can markedly reduce quality of life, is often refractory to medical therapy and there are no approved treatments for it. Idiopathic pulmonary fibrosis is recognised as an orphan disease in both Europe and the US.
The financing round involved a syndicate of leading transatlantic life sciences investors led by new investor Columbus Venture Partners and existing investors Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners, OrbiMed and the UK Government’s Future Fund. The proceeds from the financing round will primarily be used to fund the Phase 2 clinical development of orvepitant as a treatment for chronic cough associated with IPF. Preparation for the start of the Phase 2 trial is underway.
Dr. Mary Kerr, CEO of NeRRe Therapeutics, said: “After demonstrating that orvepitant reduces the burden of chronic cough in one population, we are delighted to have received the financial support to further advance this promising asset for patients suffering from chronic cough associated with IPF. I am also pleased to welcome Columbus Venture Partners to the syndicate and would like to thank our existing investors for their continued support of the NeRRe team, and this exciting first in class asset.”
Toby Maher Professor of Medicine and Director of Interstitial Lung Disease at Keck School of Medicine, University of Southern California, Los Angeles said: “IPF is a rare, progressive, and fatal form of interstitial lung disease in which cough can be a dominant and distressing feature. A treatment that improves this chronic cough would substantially improve the quality of life of many IPF patients.”
Javier Garcia, General Partner and Founder of Columbus Venture Partners, said: “We have been impressed by NeRRe’s clear strategy and focus on chronic cough associated with IPF, a condition of high unmet medical need and we look forward to supporting the company as it fully uncovers the multiple benefits that orvepitant can provide to these patients.”