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  • Biotechnology Start-up Nuon Therapeutics Inc. Completes $5 Million Series A Financing

    July 23rd, 2007 No comments

    Nuon Therapeutics Inc., a newly established clinical stage biotechnology company, recently announced the completion of a $5 million Series A financing with GBS Venture Partners of Australia.

    The company also announced that Rodney Pearlman, PhD, has been named CEO of Nuon Therapeutics, and will lead an experienced biotech development team including Helen Jenkins (Chief Operating Officer), Jan Wallace, MD (Chief Medical Officer, Regulatory) and Mike Selley, PhD (Chief Scientific Officer).

    Nuon Therapeutics is a drug development company focusing on novel therapies for autoimmune and chronic inflammatory diseases such as multiple sclerosis and rheumatoid arthritis. The Company has an exclusive license to technology developed by Imperial College London and Stanford University. Nuon Therapeutics is based in the San Francisco Bay Area, with preclinical operations and clinical development in the UK, USA and Australia.

    The Series A funding will enable Nuon Therapeutics to advance its orally active lead compound, tranilast, through the next phase of clinical development and support the discovery and development of additional compounds. Initially, the funding will be used to develop and protect the company’s intellectual property, hire staff, secure supply of drug product, undertake related licensing and open an FDA IND.

    Tranilast is currently marketed for the treatment of asthma in Japan and South Korea. Nuon Therapeutics’ strategy is to reposition tranilast in new clinical indications as well as build a portfolio of additional drugs in autoimmune disease and pain.

    “Nuon Therapeutics has developed new ways to address autoimmune diseases, where there is still significant unmet medical need. GBS was interested in the opportunity – presented by Nuon – to support lower risk clinical trials and faster path to registration,” said Joshua Funder, D Phil, Chairman of the Board of Nuon Therapeutics and a partner with GBS Ventures.

    Nuon Therapeutics’ founding scientists, Marc Feldmann, MD, PhD and Larry Steinman, MD, have conducted wide-ranging preclinical testing of tranilast. “Tranilast presents a significant opportunity as a new therapy in multiple sclerosis and rheumatoid arthritis, drawing on the extensive safety profile of the drug and focusing our clinical efforts on efficacy,” said Professor Feldmann. “Furthermore, there is a considerable need for effective and safe orally available drugs for patients with autoimmune diseases,” Professor Feldmann said. “We look forward to entering advanced clinical studies to develop tranilast.”

    Nuon Therapeutics Inc. is a clinical stage biotechnology company that develops innovative small molecule drugs that address critical, unmet needs in autoimmune disease and pain. Nuon Therapeutics’ initial programs are focused on repositioning tranilast to treat multiple sclerosis, rheumatoid arthritis and pain. The company’s scientific founders are Prof. Larry Steinman at Stanford University, Palo Alto, Prof. Marc Feldmann, Imperial College, London, and Dr. Michael Selley, formerly from the Australian National University. Nuon Therapeutics Inc. has its headquarters in San Francisco, CA and has a wholly-owned subsidiary, Nuon Therapeutics Pty. Ltd., in Australia where additional discovery and development efforts are located.

    For more information, please visit www.nuontherapeutics.com

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