The Life Sciences team advised Nuvig Therapeutics, Inc., ("Nuvig") on the closing of a $161 million Series B financing co-led by Sanofi Ventures, Blue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments), and Norwest Venture Partners, with participation from new investors, B Capital, Leaps by Bayer, Global BioAccess Fund, LOTTE Holdings, Alexandria Venture Investments, and funds managed by abrdn Inc., and existing shareholders, Novo Holdings A/S, Platanus, Bristol Myers Squibb, Digitalis Ventures, and Mission BioCapital. The proceeds from the Series B financing will support clinical proof-of-concept studies for NVG-2089 and advance Nuvig's preclinical pipeline. The company is progressing NVG-2089 to Phase 2 clinical development in chronic inflammatory demyelinating polyneuropathy (CIDP) and other undisclosed indications for which there is high unmet need for non-immunosuppressive, efficacious new therapies.
Nuvig Therapeutics is a clinical-stage biotechnology company that is advancing an innovative and transformational pipeline of novel immune therapeutics for chronic inflammatory and autoimmune diseases. The Company's lead investigational drug candidate, NVG-2089, is an engineered Fc fragment designed to precisely target type II Fc receptors. When NVG-2089 binds to its target, it upregulates the expression of FcγRIIb and causes the expansion of T regulatory cells and the downregulation of numerous inflammatory pathways. Nuvig is based in Menlo Park, California.
The Goodwin team was led by Kim Maruncic, Carolyn Nguyen, Laura Garvey, Summer Brook Lawson, Kingsley Taft and Maggie Wong; Noelle Dubiansky, Nancy Urizar and Xiaowei Wu, Sabrina Poulos, GG Guckaya and Jake Osborn.
For more information on the deal, please read the press release and coverage in Endpoints News.