BioIntervene takes on adenosine in pain, raises $30M
BioIntervene founder pinpoints an adenosine receptor that may be able to safely treat neuropathic pain
With IP from St. Louis University and NIH, BioIntervene raised a $30 million series A round from MPM Capital to bring what could be a first-in-class pain therapy into the clinic.
The company plans to start a Phase I neuropathic pain trial next half of lead candidate BIO-205, an adenosine A3 receptor (ADORA3) agonist. The offering is expected to give BioIntervene enough runway to complete proof-of-concept studies.
MPM’s Ed Hurwitz, who serves as executive chairman of BioIntervene Inc., told BioCentury the firm was attracted by the novel biology the company had