Nutrinia, a healthcare company, has today announced the closing of a $30 million Series D financing to fund two pivotal trials for registration, according to a report in Businesswire.
The Life science venture investment arm of leading global alternative asset firm TPG Biotech, TPG, was the highest investor, joined by H.I.G. BioHealth Partners and WuXi Healthcare Ventures, as well as existing investors including OrbiMed, Pontifax and others.
Nutrinia will use the proceeds in order to initiate two pivotal trials for registration in separate indications related to acceleration of gut maturation and adaptation: intestinal malabsorption in preterm newborns born between 26 and 32 weeks’ gestational age, and infants with SBS who are under 12 months old.
“I’m happy to welcome TPG Biotech, H.I.G. BioHealth Partners and WuXi Healthcare Ventures into Nutrinia at this exciting time for the company,” said Miki Olshansky, Nutrinia’s Chief Executive Officer.
“We are beginning two trials in the US and Europe that will provide robust data as to the safety and efficacy of our proprietary oral formulation of insulin, and if successful, provide a direct path to registration. These are orphan indications that affect fragile populations with high levels of unmet medical need,” he said.
“The biological rationale for Nutrinia’s product is strong and the company’s preclinical data and outcomes of multiple previous clinical trials are compelling,” said Eran Nadav, Ph.D., Partner and Managing Director at TPG Biotech. “We believe that neonatology, and specifically the NICU, are areas that deserve particular therapeutic development focus, and we are pleased to support Nutrinia’s efforts.”
Nutrinia’s Board of Directors will have a new board member, Dr Nadav with this investment and also Aaron Davidson, Co-head and Managing Director of H.I.G. BioHealth Partners.
Nutrinia has a total equity funding of $43 million in 3 rounds from 6 investors while Its most recent funding was $30 million Series D, according to reports in Crunchbase