Nora Therapeutics closes $18M Series B financing to expand drug development

Nora Therapeutics, a biotechnology company focused on developing therapeutics to address unmet needs in reproductive medicine, today announced the closing of an $18 million Series B financing. The proceeds will be used to expand the development of Nora's lead drug, NT100, including the addition of a second Phase 2 trial (RESPONSE) in women with unexplained recurrent pregnancy loss. NT100 is currently being studied in an ongoing Phase 2 trial (THRIVE-IVF) to improve pregnancy outcomes for women with a history of failed IVF cycles. 

The Series B financing was led by Novo A/S and included participation from all Series A investors – Burrill & Company, Prospect Venture Partners, Rho Ventures, and Vivo Capital.  In connection with the financing, Heath Lukatch, Ph.D., Partner at Novo Ventures, will join the company's Board of Directors. "We believe Nora represents a unique opportunity in a disease area that has significant unmet needs and few therapeutic options," said Dr. Lukatch. "We look forward to supporting the company's solid, long-term growth potential as it advances the development of NT100."

"The significant level of both new and existing investor interest in our Series B financing is further validation of both the approach and the potential of our lead compound, NT100, to address two indications with high unmet need: recurrent pregnancy loss and infertility," said Jeffrey K. Tong, Ph.D., President and CEO of Nora Therapeutics. "We are further encouraged that enrollment in the THRIVE-IVF trial is ahead of schedule and we have already received significant investigator interest for the upcoming RESPONSE trial."

SOURCE Nora Therapeutics