NeRRe raises L23M in series B

NeRRe Therapeutics Ltd. (Stevenage, U.K.) raised L23 million ($28.4 million) in an oversubscribed series B co-led by new investors Fountain Healthcare Partners, Forbion Capital Partners and OrbiMed. Also participating were existing investors Novo A/S and Advent Life Sciences.

The company is developing a portfolio of neurokinin receptor antagonists. CEO Mary Kerr said NeRRe plans to start a Phase II study in 2Q17 of its lead molecule, orvepitant (formerly GW823296), to treat a chronic respiratory condition such as refractory cough. The company has completed a study of orvepitant in EGFR inhibitor-induced pruritus, but does not intend to pursue that indication. Orvepitant is a neurokinin 1 receptor (NK1R; TACR1)antagonist...