Israeli biotech startup Nutrinia has closed $30 million Series D financing to fund two pivotal trials for registration. TPG Biotech led the investment, joined by H.I.G. BioHealth Partners and WuXi Healthcare Ventures, as well as existing investors including OrbiMed, Pontifax and others. The Ramat Gan based company is developing a proprietary oral formulation of insulin for intestinal malabsorption in preterm newborns and Short Bowel Syndrome (SBS) in infants.
Nutrinia will use the proceeds 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.
Nutrinia was founded by Professor Naim Shehadeh head of Pediatric Diabetes Clinic at the Rambam Medical Center in Haifa, at the NGT incubator in Nazareth, which was supported by the Jacobs family, who invested in the company’s earlier investment round along with Maabarot
Nutrinia CEO Miki Olshansky said, "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."
"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."
With this investment, Dr. Nadav will join Nutrinia’s Board of Directors, as will Aaron Davidson, Co-head and Managing Director of H.I.G. BioHealth Partners.
Published by Globes [online], Israel business news - www.globes-online.com - on August 18, 2016
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