NEA leads Trevi's $50.5M series C round

Dermatology play Trevi Therapeutics Inc. (New Haven, Conn.) raised $50.5 million in a series C round led by New Enterprise Associates. New investors Lundbeckfonden Ventures, Omega Funds, and Aperture Venture Partners also participated, as did existing investor TPG Biotech.

Trevi is developing Nalbuphine ER (T111), an extended-release oral formulation of nalbuphine. In early 2018, it hopes to start a Phase III trial of the candidate to treat prurigo nodularis. Nalbuphine ER has also met the primary endpoint in a Phase II/III trial to treat moderate to severe uremic pruritus in patients on hemodialysis (see BioCentury Extra, Sept. 10, 2015)...