Two clinical candidates are in development for treating a respiratory condition, and postmenopausal vasomotor symptoms
NeRRe Therapeutics raised £23 million ($28.3 million) in an oversubscribed Series B round of financing with new and existing investors. The U.K. firm says the new funds will be used to derive Phase II data on its lead oral neurokinin-1 (NK-1) antagonist candidate orvepitant as a potential therapy for a common, chronic respiratory condition, and its dual NK-1,3 antagonist NT-814 in the treatment of postmenopausal vasomotor symptoms.
“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,” commented Iain Dukes, Venture Partner at OrbiMed, which co-led the Series B fundraising. “We look forward to supporting the company in achieving these aims.”
NeRRe was founded as a spinout from GlaxoSmithKline (GSK) in 2012, to take on the latter’s portfolio of clinical and preclinical NK receptor antagonists and associated IP for the potential treatment of disorders caused by neuronal hypersensitivity. NeRRe's clinical pipeline is headed by orvepitant, which is in Phase II development for a chronic debilitating respiratory condition for which there is currently no approved therapy. The dual NK-1,3, antagonist NT-184 is in Phase II development for the postmenopausal vasomotor symptoms indication and is also undergoing Phase II investigator-led evaluation as a potential treatment for opiate use disorder.
