Dublin-based drug firm Inflazome raises €40m in funding
Dublin-headquartered Inflazome has completed a €40m Series B funding round.
Inflazome is developing drugs that block harmful inflammation.
According to the company, scientific data indicates that the NLRP3 inflammasome is overactive in a broad range of serious medical conditions driven by harmful inflammation.
These diseases include neurological disorders such as Alzheimer's and Parkinson's, as well as inflammatory bowel disease and cardiovascular diseases.
The funds raised will be used to advance the company's NLRP3 inflammasome inhibitors into multiple clinical trials in 2019.
Financing was led by Forbion, with Longitude Capital and founding investors Novartis Venture Fund and Fountain Healthcare Partners also participating.
"Recognising the important role of the inflammasome in many major diseases, we intensively screened the universe of companies active in this space," Dr Marco Boorsma, general partner at Forbion Capital Partners, said.
"We decided to back Inflazome because of their leading position, deep understanding of inflammasome biology, foundational IP position and advanced and diversified pipeline of NLRP3 modulators."
Meanwhile, Mainstay Medical has reported mixed results its ReActiv8-B trial.
ReActiv8 is a treatment aimed at stopping chronic lower back pain.
The study, which took place over 120 days, did not show statistical significance between treatment and control groups, and so the primary endpoint was not achieved.
However, according to Davy analyst Andrew Young, the positive one-year efficacy data, combined with the good safety profile of ReActiv8, should support the case for approval from the Food and Drug Administration in the United States.
"The positive data could also be used to support commercialisation efforts of ReActiv8 in Europe," Mr Young added.