Individuals with CIDP often struggle with walking and climbing stairs due to sensory dysfunction in the limbs. Credit: Bangkok Click Studio/Shutterstock.

Nuvig Therapeutics has closed a $161m Series B financing round to advance its preclinical pipeline and support NVG-2089’s clinical proof-of-concept trials.

The first-in-class recombinant Fc fragment immunomodulator, NVG-2089, is advancing into Phase II trial development, targeting chronic inflammatory demyelinating polyneuropathy (CIDP) and other conditions with significant treatment gaps.

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A neurological autoimmune disorder, CIDP causes progressive weakness and sensory dysfunction in the limbs. Individuals with this condition often struggle with walking and climbing stairs.

Norwest Venture Partners, Sanofi Ventures, and Blue Owl Healthcare Opportunities co-led the financing.

New investors included Leaps by Bayer, B Capital, Global BioAccess Fund, Alexandria Venture Investments, Lotte Holdings, and funds managed by Abrdn.

Existing shareholders Bristol Myers Squibb, Novo Holdings, Platanus, Mission BioCapital, and Digitalis Ventures also participated.

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Nuvig concluded dosing with the immunomodulator in the Phase I study.

NVG-2089 was observed to be safe and well-tolerated in Phase I single-ascending dose (SAD) and multiple-ascending dose (MAD) trials.

The pharmacokinetic results were found to be dose-proportional and pharmacodynamic data showed target engagement. The positive Phase I outcomes supported the decision to advance the candidate to Phase II trials.

Nuvig Therapeutics founding CEO, co-founder, and chief scientific officer Pamela Conley said: “We are delighted to partner with additional high-calibre investors.

“Their scientific and strategic perspectives will support our efforts to diversify our pipeline and bring potentially transformative medicines to patients.”

Alongside the financial milestone, the company has welcomed new board members.

Tim Anderson from Blue Owl Healthcare Opportunities, Tiba Aynechi from Norwest Venture Partners, and Dr Paulina Hill from Sanofi Ventures have joined the company’s board of directors.

Dr Hill said: “Nuvig’s innovative and immunomodulatory approach to inflammatory and autoimmune diseases is well aligned with Sanofi Ventures’ development and investment philosophy.

“They have not only demonstrated powerful anti-inflammatory effects of their lead candidate NVG-2089 without immunosuppression but have also created a reproducible and scalable recombinant method of recapitulating the effects of IVIg without the downsides and supply limitations of IVIg.”

Additionally, Sorriso Pharmaceuticals founder, president, and CEO Ciara Kennedy and Kateran Consulting founder and CEO James Mackay have been appointed as independent members of the Board.