CA-NITROME-BIOSCIENCES
22.4.2020 03:02:10 CEST | Business Wire | Press release
Nitrome Biosciences (Nitrome), a privately-held biopharmaceutical company developing a platform around a newly identified class of enzymes to target Parkinson’s disease and other age-related disorders, today announced that it has closed a Series A financing of $38 million co-led by Sofinnova Partners, a leading European life sciences venture capital firm, and AbbVie Ventures, AbbVie’s corporate strategic venture capital arm, with further participation from the Dementia Discovery Fund, Mission Bay Capital and Alexandria Venture Investments. Henrijette Richter, Ph.D., Managing Partner of Sofinnova Partners, Margarita Chavez, Managing Director of AbbVie Ventures and Jonathan Behr, Ph.D., Partner of the Dementia Discovery Fund, will join Nitrome’s Board of Directors.
The financing is intended to support the advancement of Nitrome’s lead program targeting Parkinson’s Disease toward human clinical proof of concept studies and to explore the application of the company’s platform technology in other age-related disorders.
“This financing will enable Nitrome to advance our mission of impacting the lives of patients with neurodegenerative and other age-related diseases,”said Dr. Irene Griswold-Prenner, Ph.D., Founder, CEO and CSO of Nitrome. “We are thrilled to have the support of this world-class group of life science investors led by Sofinnova Partners and AbbVie Ventures, who bring their invaluable strategic counsel and deep expertise to the Nitrome team.”
“Nitrome’s breakthrough science is paving the way for novel, disease-modifying therapies,” said Sofinnova Partners’ Dr. Richter. “Dr. Griswold-Prenner is a serial entrepreneur who has extensive experience in drug discovery and development. Nitrome’s team is made up of highly-respected neuroscientists accomplished in drug discovery. The company is well-positioned to potentially transform the lives of Parkinson’s patients and others who suffer from age-related diseases.”
Nitrome has been widely recognized, and has won multiple awards including the prestigious Target Advancement grant from The Michael J. Fox Foundation for Parkinson's Research (MJFF) . Nitrome was also awarded the 2018 AbbVie Golden Ticket, and allocated lab space at the San Francisco incubator MBC BioLabs. Nitrome subsequently won three additional Golden Tickets from MBC BioLabs’ partners.
About Nitrome Biosciences
Nitrome Biosciences is a platform company developing drugs against a newly identified class of enzymes called Nitrases, initially targeting Parkinson’s disease. The therapies that Nitrome is developing will target these enzymes and potentially help slow or halt the progression of diseases such as Parkinson’s. While the initial focus is on Parkinson's disease, the company aims to expand its proprietary platform to include other disease indications. Nitrome has been widely recognized, and has won multiple awards including the prestigious Target Advancement grant from The Michael J. Fox Foundation for Parkinson's Research (MJFF)
. For more information, please visit our website at www.nitromebiosciences.com
.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm specialized in Life Sciences. Based in Paris, France, with offices in London and Milan, the firm brings together a team of 40 professionals from all over Europe, the U.S. and Asia. The firm focuses on paradigm-shifting technologies alongside visionary entrepreneurs. Sofinnova Partners invests across the Life Sciences value chain as a lead or cornerstone investor, from very early-stage opportunities to late-stage/public companies. It has backed nearly 500 companies over more than 48 years, creating market leaders around the globe. Today, Sofinnova Partners has over €2 billion under management.
For more information, please visit: www.sofinnovapartners.com
About AbbVie Ventures
AbbVie Ventures is the corporate venture capital group of AbbVie. We are a strategic investor, investing exclusively in novel, potentially transformational science aligned with AbbVie’s core R&D interests. We measure success primarily by the extent to which our investments foster innovation with potential to transform the lives of patients that AbbVie serves. AbbVie Ventures enables its portfolio companies with both funding as well as access to AbbVie’s internal network of experts across all phases of drug development, from drug discovery through commercialization.
For more information, please visit: www.abbvie.com/ventures
About the Dementia Discovery Fund (DDF)
The DDF is a venture capital fund focused on funding the discovery and development of novel disease-modifying therapies for dementia patients, including those with Alzheimer’s disease. Established in 2015, the fund has raised 250 million pounds from an influential group of strategic investors committed to developing urgently needed new treatments that could alter the course of disease and help combat the growing global burden of dementia.
The fund, the first-of-its-kind to combine government, industry, private sector and charity backing, is advised by SV Health Investors with investments from leading pharmaceutical companies (Biogen, Eli Lilly and Co., GSK, Johnson & Johnson, Otsuka (Astex), Pfizer and Takeda), AARP, Aegon, Bill Gates, British Patient Capital, NFL Players Association, Quest Diagnostics, UnitedHealth Group, the UK’s Department of Health and Social Care, and the charity Alzheimer’s Research UK. www.theddfund.com
About Mission Bay Capital
Mission Bay Capital is an early-stage venture fund dedicated to helping entrepreneurial scientist create successful companies. We do this because we believe that startups are the most efficient engine for positive change. Their passion and purpose turn ideas into solutions. We help with space and capital. Our co-working laboratories, MBC BioLabs, provide state-of-the-art facilities that allow startups to do experiments on their first day. www.missionbaycapital.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20200421005787/en/
Link:
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
LMR by IFF Inaugurates New Experimental Field in Grasse28.5.2026 11:00:00 CEST | Press release
Furthering IFF’s leadership in natural ingredients for perfumery. LMR Naturals by IFF—a global leader in natural ingredients for perfumery, cosmetics and flavors—today inaugurated its new experimental field, Domaine des Naturels LMR. The field is dedicated to advancing research in natural ingredients, preserving Grasse’s agricultural heritage and expanding education in naturals. The inauguration, attended by Grasse Mayor Jérôme Viaud, a long-standing supporter of the perfume industry, underscores IFF and LMR’s ongoing commitment to the region. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260527694524/en/ At Domaine des Naturels LMR, R&D experts research new natural species, variety breeding, cultivation methods and production techniques. “This inauguration reflects over two decades of continuous investment in Grasse and in naturals,” said Ana Paula Mendonça, president, Scent, IFF. “With Domaine des Naturels LMR, we are bri
Reply Expands Prebuilt AI Apps With New Production-Ready Applications to Accelerate Enterprise AI Adoption28.5.2026 10:00:00 CEST | Press release
Reply[EXM, STAR: REY] today released a new set of Prebuilt AI Apps: ready-to-use agentic applications designed to drive efficiency and business growth by accelerating the integration of AI into enterprise processes. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528283268/en/ Prebuilt AI Apps are ready-to-use agentic applications designed to accelerate the integration of AI into enterprise processes, driving efficiency and supporting business growth. In developing the Prebuilt AI Apps, Reply has identified key areas within enterprise processes where AI can create tangible operational value and turned them intoreusable assets, combining deep process knowledge, curated datasets, domain ontologies and reusable agentic flows in robust, secure and production-ready solutions. Each application can be further customised and extended through integration with enterprise systems, internal data and knowledge bases, while maintaining
Klarna Partners With Arrive for Parking in 15 Markets28.5.2026 09:56:00 CEST | Press release
Klarna, the global digital bank and flexible payments provider, has partnered with Arrive, a leading global mobility platform, to bring seamless and flexible payment options to millions of consumers across 15 markets. Through the partnership, drivers will be able to pay for parking using Klarna’s Pay in Full, which will be available directly in Arrive’s EasyPark app, ensuring payments can be made instantly. This provides consumers with more flexibility and control over their everyday spending, and builds on Klarna's growing presence in everyday spending and saving, where consumers increasingly use Klarna for recurring, low-friction purchases alongside savings products like Klarna Balance. Arrive, formerly EasyPark Group, operates one of the world’s largest digital parking networks, facilitating high frequency payments across millions of spots in more than 20,000 cities and 90 countries. By providing the digital infrastructure that helps individuals and decision-makers make smarter urba
Navan Unlocks Savings for Travelers with First SAS NDC Direct Connect28.5.2026 09:01:00 CEST | Press release
Direct connection gives travelers access to lower fares and streamlined post-booking services Navan (NASDAQ: NAVN), the global AI-powered business travel and expense platform, today announced a New Distribution Capability (NDC) integration with Scandinavian Airlines (SAS). By allowing the airline to share its fares, availability, and offers directly in real time, the integration provides an expanded portfolio of SAS fares and services to Navan customers. This makes Navan the first Travel Management Company (TMC) to access SAS NDC content via a direct connection, leveraging version 21.3 of the NDC API. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260528812727/en/ Direct connection gives travelers access to lower fares and streamlined post-booking services “Our Modern Airline Retailing journey is centered on delivering more relevant offers, greater transparency, and better value for travelers,” said Edward Fotheringham, VP S
KKR to Open New Office in Milan, Strengthening Long-Term Commitment to Italy28.5.2026 09:00:00 CEST | Press release
New office reflects KKR’s localisation strategy and opportunity in Italy’s evolving investment landscape KKR, a leading global investment firm, today announced plans to open an office in Milan, further strengthening its long-term commitment to Italy and expanding its local presence in one of Europe’s largest economies. The office will support the firm’s investment activity across Private Equity, Real Assets, Credit and Insurance, while deepening client partnerships and advancing the continued development of KKR’s private wealth business in Italy. Italy has been an important market for KKR for over two decades, with over €10 billion of capital deployed since 2005 across Private Equity, Real Assets and Credit. The firm’s investments include FiberCop, Europe’s first wholesale-only, open-access fibre network, Enilive, a key player in advancing Italy’s energy transition, and CMC, a sustainable packaging leader using robotics to drive innovation. These investments reflect KKR’s focus on part
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom