Inotrem Announces €39 Million Series B Financing to Develop First-In-Class Immunology Therapeutics
Inotrem S.A., a biotechnology company specialized in the development of immunotherapies targeting the TREM-1 pathway with potential applications for acute and chronic inflammatory syndromes, announced today a €39 million Series B financing led by Morningside Ventures, joined by Invus with participation from existing investors Andera Partners, Sofinnova Partners and BiomedInvest.
The financing will support the clinical development of Inotrem’s lead drug candidate, nangibotide (an anti-TREM-1 peptide) in a global multicentric Phase IIb trial in septic shock patients (ASTONISH trial) to deliver a meaningful proof of clinical efficacy, as well as its companion diagnostic tool using soluble TREM-1 as a mechanism-based biomarker to select patients that are more likely to respond favorably to treatment. This series B financing will also allow Inotrem to expand its TREM-1 franchise to address chronic inflammatory diseases.
“We are thrilled to have attracted world-class investors from the USA to advance what we believe is a new paradigm in immunotherapy” said Jean-Jacques Garaud, CEO of Inotrem, “This financing validates the potential of our technology platform centered on the TREM-1 pathway and of our lead drug candidate for septic shock, nangibotide, which will be entering a large Phase IIb clinical trial later this year” .
Based on a novel approach of immunomodulation which targets the TREM-1 pathway, Inotrem has developed a proprietary technology platform and leverages its extensive knowledge of the TREM-1 pathway biology to develop programs in several indications with inflammatory syndromes for which there is a major and today unsatisfied therapeutic need. Its lead compound, nangibotide, targets septic shock which is the ultimate complication of sepsis. The incidence of septic shock continuously raises and mortality remains elevated (35%) in developed countries. There is currently no specific mechanism-based therapy approved for this indication. Inotrem’s solution has the potential to become the first mechanism-based treatment for septic shock.
“We have been strongly impressed by Inotrem’s achievements until now and are convinced its approach of immunomodulation which targets the TREM-1 pathway could represent a step change in immunotherapy and bring solutions to patients that today lack effective therapies”, indicated Jason Dinges of Morningside.
In connection with the financing, Dr. Jason Dinges of Morningside will join the Inotrem’s Board of Directors.
Bryan Garnier & Co, the European Growth Investment Bank, supported Inotrem with its fundraising.
Inotrem S.A. is a biotechnology company specialized in immunotherapy for acute and chronic inflammatory syndromes. The company has developed a new concept of immunomodulation that targets the TREM-1 pathway to control unbalanced inflammatory responses. Through its proprietary technology platform, Inotrem has developed the first-in-class TREM-1 inhibitor, LR12 (nangibotide), with potential applications in a number of therapeutic indications such as septic shock and myocardial infarction. In parallel, Inotrem has also launched another program to develop a new therapeutic modality targeting chronic inflammatory diseases. The company was founded in 2013 by Dr. Jean-Jacques Garaud, a former head of research and early development at the Roche Group, Prof. Sébastien Gibot and Dr. Marc Derive. Inotrem is supported by leading European and North American investors.
Nangibotide is the formulation of the active ingredient LR12, which is a 12 amino-acid peptide prepared by chemical synthesis. LR12 is a specific TREM-1 inhibitor, acting as a decoy receptor and interfering in the binding of TREM-1 and its ligand. In preclinical septic shock models, nangibotide was able to restore appropriate inflammatory response, vascular function, and improved animals’ survival post septic shock. Nangibotide in septic shock has been granted the fast track status in September 2019 by the FDA.
The Efficacy, Safety and Tolerability of nangibotide in Patients with Septic Shock (ASTONISH) phase IIb trial is a Randomized, Double-blind, Placebo Controlled Dose Selection Study that will be performed Europe and the US. Four hundred and fifty patients are planned to be included in this study in 48 clinical sites. The study will compare the effect of nangibotide at two different doses versus standard of care. The IND has been cleared by the FDA in August 2019.
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