Nuvig Therapeutics Raises $161 Million in Series B Funding for Autoimmune Disease Therapeutics

Nuvig Therapeutics, Inc., a biotechnology company focused on developing new therapies for inflammatory autoimmune diseases, has successfully closed a $161 million Series B financing round. The funding was co-led by Sanofi Ventures, Blue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments), and Norwest Venture Partners, with participation from new investors such as B Capital, Leaps by Bayer, Global BioAccess Fund, LOTTE Holdings, Alexandria Venture Investments, and abrdn Inc. management. Existing shareholders including Novo Holdings A/S, Platanus, Bristol Myers Squibb, Digitalis Ventures, and Mission BioCapital also contributed.

The company plans to utilize the funding to advance its lead candidate, NVG-2089, a recombinant Fc fragment immunomodulator, into Phase 2 clinical development for chronic inflammatory demyelinating polyneuropathy (CIDP) and other undisclosed indications. Additionally, the successful completion of dosing in the Phase 1 study for NVG-2089 has paved the way for its progression into Phase 2 studies across multiple indications. Following the financing, Nuvig Therapeutics welcomed new members to its Board of Directors, including representatives from Sanofi Ventures, Blue Owl Healthcare Opportunities, and Norwest Venture Partners.

The company also appointed independent members to its board from the pharmaceutical industry. Nuvig Therapeutics is focused on delivering innovative and transformational immune therapeutics for chronic inflammatory and autoimmune diseases, with NVG-2089 serving as its lead investigational drug candidate. For more information, please visit www.nuvigtherapeutics.com.