Dutch NASH play NorthSea debuts with €25M

Former Dezima Pharma B.V. investors and executives have reconnected to launch non-alcoholic steatohepatitis company NorthSea Therapeutics B.V. (Naarden, the Netherlands). The newco raised €25 million ($29.5 million) in a series A round led by Forbion and BioGeneration Ventures (BGV), with participation by Novo Seeds and New Science Ventures.

NorthSea will develop icosabutate (PRB-1022, PRC-4016), a structurally engineered fatty acid (SEFA), and a library of preclinical SEFAs, which it in-licensed from Pronova BioPharma Norge A/S, a subsidiary of BASF S.E. (Xetra:BAS). It hopes to have the compound ready for Phase IIb testing in NASH by YE18. ...