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
Signaloid Announces Preview of New ASIC Targeted at Physical AI and Robotics Applications2.6.2026 06:00:00 CEST | Press release
Signaloid previews a new ASIC purpose-built for physical AI and robotics workloads.The chip, taped out with TSMC in partnership with IC-Link by imec and Cadence, is projected to deliver up to 1000× better performance-per-watt in key physical AI workloads. Signaloid (https://signaloid.com), a computing platform company providing hardware and binary-translation-based acceleration of AI, robotics, aerospace, and quantitative finance workloads, today announced the tapeout and preliminary specifications documents for its C0-ASIC. Delivery of engineering samples to the first customer is due in Q3 2026 and additional FPGA-based systems implementing the ASIC’s design are under discussion for deployment in the UK and Switzerland later in 2026. The C0-ASIC was targeted specifically at energy-efficient physical AI workloads. The UK Advanced Research and Invention Agency (ARIA) will take delivery of systems based on the ASIC for use in next-generation AI workloads such as second order methods. “Th
Blackstone Raises its Largest Asia Private Equity Fund at $13.1 Billion2.6.2026 03:00:00 CEST | Press release
Oversubscribed Fund More than Doubles Capital Raised for Predecessor Vehicle Blackstone (NYSE: BX) today announced the final close of Blackstone Capital Partners Asia III (“BCP Asia III”) at $13.1 billion, exceeding its $10 billion target and marking the firm’s largest private equity fundraise in the region. The oversubscribed fund reached its hard cap and builds on the strong performance of the strategy’s first two vintages, with this close representing more than double the amount of capital raised for its predecessor vehicle. Joe Baratta, Global Head of Blackstone Private Equity Strategies,said: “We are grateful for the continued trust of our investors in Blackstone and our leading Asia Private Equity franchise. This successful fundraise reflects the strength of our platform and our ability to perform through cycles. Asia Pacific is the fastest-growing region in the world, presenting compelling opportunities to invest at scale behind our high-conviction themes and deliver for our inv
Phison Unlocks Full-Scale AI Deployment Across Industries2.6.2026 02:00:00 CEST | Press release
Building an Ecosystem with Pascari aiDAPTIV™ Phison Electronics (8299TT), a global leader in NAND flash controllers and storage solutions, today announced a new strategic initiative at COMPUTEX 2026 under the theme “AI Enabler: Evolving Data Storage Intelligence.” Expanding beyond its role as a storage technology leader, Phison is taking a systems-level approach to AI solutions spanning AI infrastructure, edge AI computing and AI software platforms. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260601070396/en/ Phison evolving data storage intelligence at COMPUTEX 2026 At COMPUTEX 2026, Phison is showcasing comprehensive AI storage and computing architecture solutions designed to address key challenges facing enterprises and end users in the AI era, including high AI deployment costs, GPU and memory limitations, data privacy concerns and the increasing storage bandwidth and power demands driven by AI workloads. Four Core Te
Phison Collaborates with Intel to Bring Larger Local AI Workloads to Intel AI PC Platforms2.6.2026 02:00:00 CEST | Press release
Phison's Pascari aiDAPTIV™ removes local memory constraints on client PCs, enabling larger MoE AI models and agentic AI applications COMPUTEX — Phison Electronics (8299TT), a global leader in NAND flash controllers and storage solutions, today announced a collaboration with Intel to enable AI PCs to deploy larger, more capable AI applications locally. The collaboration combines Intel® Core™ Ultra Series 3 processors with Phison’s Pascari aiDAPTIV, a memory extension solution that unblocks memory-constrained systems to support larger Mixture-of-Experts (MoE) AI models, longer-running AI sessions and agentic AI workflows. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260601878925/en/ Phison and Intel collaborate to bring larger local AI workloads to Intel AI PC Platforms Today, AI PCs are moving beyond simple assistant applications toward more advanced local AI use cases. These solutions now support end users and businesses i
SymphonyAI Brings AI-Powered Assortment and Space Platform to Global CPGs, Compressing Category Review Cycles from Weeks to Days2.6.2026 00:35:00 CEST | Press release
CINDE Assortment and Space closes the loop between assortment, planogram, and in-store execution, proven across 500-plus global CPG deployments Planogram compliance failures, undetected out-of-stocks, and the lag between headquarters planning and store-level execution cost grocers measurably in comp sales, shrink, and associate labor hours. The tools built for category planning have never been designed to close that execution gap. In response, SymphonyAI, a global leader in Vertical AI, today announced the availability of CINDE Assortment and Space for CPGs, an AI platform that closes the loop between assortment strategy, planogram execution, and in-store compliance, compressing the category review cycle from four to six weeks to a matter of days. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260602137061/en/ The platform is underpinned by SymphonyAI's Transferable Demand AI, a model trained across 25 years of retail data a
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