Nuvig Therapeutics Secures $161M Series B Funding for Autoimmune Therapy Development

Funding:
Nuvig Therapeutics has raised $161 million in a Series B funding round, backed by investors including Sanofi Ventures, Blue Owl Healthcare Opportunities, Norwest Venture Partners, and others14.

Therapy Development:
The funding will support the development of Nuvig's lead immunomodulatory therapy, NVG-2089, which aims to limit the immune response on B cells and myeloid cells by upregulating the Fc gamma R2B checkpoint receptor24.

Phase 2 Study:
Nuvig plans to use the new funds to initiate a Phase 2 study for NVG-2089, targeting chronic idiopathic demyelinating polyneuropathy (CIDP) and potentially other dermatological autoimmune disorders24.

Alternative to IVIG:
Nuvig's therapy is designed as an alternative to intravenous immunoglobulin (IVIG) therapy, which is expensive and derived from donated plasma2.

Competitive Landscape:
The funding comes amidst rising competition in the autoimmune therapy field, with several companies developing new treatments for autoimmune diseases4.

Sources:

1. https://www.fiercebiotech.com/biotech/fierce-biotech-fundraising-tracker-24

2. https://www.biocom.org/lifelines/interviews/member-spotlight-nuvig-therapeutics/

4. https://endpts.com/nuvig-raises-161m-as-it-prepares-for-phase-2-study-in-hot-autoimmune-field/