USA – Nitrome Biosciences, a San Francisco, CA-based biopharmaceutical company developing a platform around a newly identified class of enzymes to target Parkinson’s disease and other age-related disorders, closed a $38m Series A financing.
The round was co-led by Sofinnova Partners and AbbVie Ventures, AbbVie’s corporate strategic venture capital arm, with participation from the Dementia Discovery Fund, Mission Bay Capital and Alexandria Venture Investments. In conjunction with the funding, Henrijette Richter, Ph.D., Managing Partner of Sofinnova Partners, Margarita Chavez, Managing Director of AbbVie Ventures and Jonathan Behr, Ph.D., Partner of the Dementia Discovery Fund, will join Nitrome’s Board of Directors. The company intends to use the funds to advance its lead program targeting Parkinson’s Disease toward human clinical proof of concept studies and to explore the application of its platform technology in other age-related disorders. Led by Dr. Irene Griswold-Prenner, Ph.D., Founder, CEO and CSO, Nitrome Biosciences is a platform company developing drugs against a newly identified class of enzymes called Nitrases, initially targeting Parkinson’s disease. The therapies in development will target these enzymes and potentially help slow or halt the progression of diseases such as Parkinson’s. While the initial focus is on Parkinson’s disease, the company aims to expand its proprietary platform to include other disease indications. 22/04/2020
