SiteOne Therapeutics Secures $100M Series C Funding to Advance Non-Opioid Pain Treatments
Funding:
SiteOne Therapeutics has secured a $100 million Series C financing to advance its portfolio of selective, small-molecule ion channel modulators for non-opioid pain treatments145.
Focus:
The company focuses on the peripheral nervous system (PNS) to address pain and sensory hyperexcitability disorders without the central side effects and risk of addiction associated with opioids and gabapentinoids1.
Lead Candidate:
SiteOne’s lead candidate, STC-004, selectively targets NaV1.8 for pain and related disorders, while a separate program targets NaV1.7 in collaboration with Vertex Pharmaceuticals1.
Clinical Goals:
The funding will be used to advance SiteOne’s NaV1.8 program through clinical proof of concept in acute and chronic pain, as well as other ion channel modulators in the pipeline1.
Investors:
The Series C financing was led by Novo Holdings, with participation from OrbiMed, Wellington Management, Mission BioCapital, BSQUARED Capital, and existing investors1.
Market Opportunity:
The total addressable market with the NaV mechanism is broad, encompassing acute pain, chronic pain, and potentially other opportunities beyond pain1.
Reimbursement Challenges:
The commercial adoption of these medications will depend on how reimbursement plays out, as the industry moves away from opioids and towards non-opioid approaches1.
Sources:
1. https://www.insideprecisionmedicine.com/topics/translational-research/potential-action-siteones-100m-series-c-to-advance-non-opioid-pain-drugs/
4. https://www.law360.com/health/articles/2275527/siteone-gets-100m-to-advance-non-opioid-pain-treatments