NeRRe Therapeutics, which is a GlaxoSmithKline PLC (ADR) (NYSE:GSK) spinout, has raised £23 million ($28 million) in a Series B financing round. This had the patronage of new investors the likes of new investors Fountain Healthcare Partners, Forbion Capital Partners, and OrbiMed.
The combination of a pipeline targeted at common, chronic and debilitating conditions was the main center of attraction for investors. They were also moved by the management team, which through their credentials displayed competitiveness in the execution of the development strategy.
According to Fountain, the lead on the Series B, Forbion, and OrbiMed, the co-leads, the bulk of the cash will be used to push two neurokinin receptor antagonists, NT-814, a dual NK-1,3 to phase 2 data readouts on orvepitant. These are the potential non-hormonal treatment of upsetting post-menopausal vasomotor symptoms.
GSK Trialed Orvepitant In Major Depressive Disorder
The trial of orvepitant in post-traumatic stress and depressive disorder has been repositioned. Since the takeover ofGlaxoSmithKline PLC (ADR) (NYSE:GSK)’s leadership by alum Mary Kerr in 2015, NeRRe has settled on chronic refractory cough as the lead indication for orvepitant. It is no longer the itching treatment allied to the epidermal growth factor receptor inhibitor anticancer therapies. Meanwhile, having persuaded investors, NeRRe presumes that it is on the right track.
Kerr quotes, “We believe that we’ve identified the best indications for both assets.”
But a Phase 2 Study Was NeRRe’s First Clinical Trial
The phase 2 study presents NeRRe with an opportunity to carry out its first clinical trial in this indication. The indication being followed for NT-814 is that of postmenopausal vasomotor symptoms. This is one of Kerr’s desires for NeRRe. Apparently, there hasn’t been a new medicine for postmenopausal vasomotor symptoms, which sometimes can be chronic because they can last up to 10 years. It is also highly debilitating.
However, there seems to be hope that is likely to undo what seems like a hopeless situation; the execution of the next phase of development. The intense focus of moving orvepitant and NT-814 closer to the market will also help in alleviating these debilitating conditions. Meanwhile, GlaxoSmithKline PLC (ADR) (NYSE:GSK)’s stock was trading at $39.73 witnessing an increase of $0.64 or 1.64%.
Note: This article is written by Adam Russell and originally published at Market Exclusive.