Investors High Interest in Novimmune’s NI-0501 for Special Orphan Disease
Novimmune secured another $31 million funding this year. Earlier in January, Novimmune raised a hefty amount of $30 million from the existing investors. With this the company reached the sum of around $61 million in just five months. In this journey of 18 years, Novimmune has raised a handsome amount of around $275 million in its fundraising rounds.
With these entire eye popping data, do not forget the key driver behind all the funding- NI-0501. It is the first treatment being developed for HLH. It received Breakthrough Therapy designation from FDA in March.
As NI-0501 advances with promising results in its clinical trials, the investor’s faith on the compound shoot up and they show it with some significant bid on the company. NI-0501 is currently in its Phase II/III trial. For unhindered progress of the NI-0501 in its clinical studies and further development along with the other compounds in the pipeline, extra financial resources have been allocated by the existing shareholders.
NI-0501 is a fully human monoclonal antibody which targets interferon-gamma (IFNγ) for inhibition of IFNγ-induced inflammation. IFNγ is a cytokine secreted by cells of the immune system for the regulation of the immune functions. The importance of this cytokine is explicated in its ability to inhibit the replication of viruses directly. It helps in stimulation as well as regulation of other immune responses in the body.
Figure 1. Mechanism of the onset of HLH (Photo credit: Kuriyama et al., 2012; Blood: 120 (19))
HLH is a fatal immune system disorder which causes uncontrolled proliferation of activated lymphocytes and macrophages which leads to secretion of severe amount of inflammatory cytokines. It is currently an unmet medical condition as no drugs have been approved till now. The disease generally occurs to children and have 50% mortality rate.
Novimmune Chairman and Chief Executive Officer Eduard Holdener said: “The continued strong commitment from our shareholders demonstrates the confidence they have in our team, our pipeline and the future of the Company. We remain committed to further developing novel medicines to provide improved treatment options for patients suffering from rare and devastating diseases such as HLH, autoimmune and inflammatory diseases or cancer”.
The orphan disease like HLH needs certain limelight to come under the serious consideration of the researchers. Novimmune’s endeavor towards development of NI-0501 for HLH is really appreciating. It seems its developmental journey will attract many potential investors in the coming time.
Featured image credit: Trust Concept © Olivier Le Moal (Stock Photo ID: 95478332)