A biotech startup with roots in Palo Alto, CA has raised $18 million in venture cash to open up a second mid-stage study of its lead therapy, looking to shape a reputation for itself in the lightly populated R&D world of reproductive medicine.
Nora Therapeutics is a one-molecule biotech, and it has won the backing of new lead investor Novo A/S along with the full crew of startup VCs: Burrill, Prospect Venture Partners, Rho Ventures, and Vivo Capital.
Nora launched back in 2010, putting together a $35 million Series A round from a group of investors drawn to the work of Darryl Carter, the company co-founder who had been a physician at Johns Hopkins. It was Carter's work that led the company to zero in on a single molecule--NT100--that promised to mimic a protein that helps foster a successful pregnancy. Nora already has one Phase II study underway for pregnant women with a history of failed IVF cycles. The second study will enroll 150 women in the UK with a history of pregnancy loss to see if the drug can reduce the rate of miscarriages.
The big idea here is that by promoting cell types in the immune system that promote tolerance while down-regulating attack cells, the biotech could address a condition for which there are now no therapies. This experimental therapy is not, though, an immunosuppressant that would strip someone of their immune system defense line.
"The strategy is to take these drugs all the way," CEO Jeff Tong tells FierceBiotech, adding that the company could go it alone or do a deal down the road. Nora currently is a virtual biotech with 7 staffers.
One of the reasons why Tong was attracted to the company after working in the cancer field is that there are few biotechs or pharma companies working in reproductive medicine, giving Nora a shot at building a company without looking over their shoulders to see if anyone is catching up.
"It's a wide open landscape," says the CEO.
- here's the release