Nimbus Discovery closes $24 million Series A financing

Nimbus Discovery LLC, a biopharmaceutical company using state-of-the-art computational technology to discover novel medicines against exciting but previously inaccessible disease targets, today announced the close of a $24M Series A financing. The investment was co-led by Atlas Venture, SR One, and Lilly Ventures. Existing investor, Bill Gates, also participated.

“Nimbus Discovery has created a highly innovative drug discovery model that combines a unique collaboration with Schrödinger with single-minded focus on developing valuable drug candidates”

"We are delighted to have the support of SR One and Lilly Ventures," said Bruce Booth, Chairman and Co-founder of Nimbus. "Their investment recognizes the extraordinary progress that Nimbus has made with its platform including the discovery of highly selective IRAK4 inhibitors with potent in vivo activity."

Proceeds from the financing will be used to accelerate existing programs targeting IRAK4 and ACC, in inflammation, cancer and metabolic disease, and to expand the Nimbus pipeline to include a series of new targets addressing important medical conditions. IRAK4 plays a pivotal role in inflammatory disease allowing the Nimbus drug candidates to be pursued in a broad range of therapeutic applications. IRAK4 is a genetically validated target since humans with inactivating IRAK4 mutations are resistant to autoimmune disease but are otherwise healthy in adulthood.

In connection with the financing, Kent Gossett, MD, PhD, Partner at SR One, and Steve Hall, PhD, Venture Partner at Lilly Ventures, have joined the Nimbus Board of Directors.

"We are excited by the advances that Nimbus has made in unlocking previously intractable targets. We believe that the Nimbus approach can deliver medicines that will transform the treatment of serious disease," Kent said.

"Nimbus Discovery has created a highly innovative drug discovery model that combines a unique collaboration with Schrödinger with single-minded focus on developing valuable drug candidates," Steve added.

Steve and Kent join the existing Board of Directors that includes Bruce Booth, PhD, Partner at Atlas Venture (Director); Vicki Sato, PhD, former President of Vertex Pharmaceuticals (Director); and Ramy Farid, PhD, co-founder of Nimbus Discovery and President of Schrödinger (Director).

SOURCE Nimbus Discovery