BioCentury
ARTICLE | Financial News

IFM launches subsidiary with $31M series A

July 19, 2018 8:38 PM UTC

IFM Therapeutics LLC (Boston, Mass.) launched inflammatory disease-focused subsidiary IFM Tre Inc. with a $31 million series A round co-led by Atlas Venture, Abingworth, Bristol-Myers Squibb Co. (NYSE:BMY) and IFM’s management.

IFM Tre will develop three of IFM’s preclinical NLR family pyrin domain containing 3 (NLRP3; NALP3; CIAS1) antagonists to treat inflammatory diseases. The lead small molecule inhibits NLRP3 activity outside of the CNS and is expected to enter Phase I testing next half. IFM Therapeutics EVP of R&D Martin Seidel told BioCentury the company is considering a broad development strategy for the candidate in indications including gout, cryopyrin-associated periodic syndromes (CAPS), cardiovascular/metabolic disease, non-alcoholic steatohepatitis (NASH), inflammatory bowel disease (IBD) and kidney disease...