Logical Therapeutics closes $16.9M round for NSAID program

After disclosing recently that it had landed the first $10 million of a Series C, Logical Therapeutics today announced that it has closed its $16.9 million round, with SV Life Sciences leading a group that includes Burrill & Company, Novo A/S, and Novitas Capital. The biotech is attempting to create safer NSAID prodrugs. LT-NS001, its lead therapy, is in a Phase IIb/III study comparing the cumulative rate of gastric ulcers versus naproxen in osteoarthritis patients after 12 weeks of treatment. The new money should get the developer to the registration stage, but it will seek a partner to launch the therapy. Release

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