SCOTCH PLAINS, N.J.– Navigator Medicines, Inc., a privately-held biotech company leading the advancement of biologics for targeted immune regulation and restoration, today announced a Series A financing alongside the in-licensing of NAV-240 and an OX40L-targeted portfolio from IMBiologics Corp.
NAV-240, formerly known as IMB101, is a clinical-stage bispecific antibody against OX40L and TNFα, two clinically-validated targets that are critical in the pathogenesis of several inflammatory diseases. Dual targeting of both OX40L- and TNFα-driven signaling pathways may improve upon the efficacy of either monotherapy alone as a potential treatment option for complex, heterogenous diseases with unmet medical needs. In connection with the transaction, Navigator has closed a $100M Series A financing, co-led by RA Capital Management and Forbion.
“I am thrilled to join Navigator at this exciting time to advance NAV-240 through the clinic and we are deeply grateful for the support of our partner, IMBiologics, and our investors,” said Dr. Dana McClintock, CMO of Navigator Medicines. “NAV-240 has the potential to make an impact on patients living with autoimmune diseases, and our Series A funding will be pivotal in accelerating its development alongside other exciting programs within our pipeline. We look forward to initiating additional clinical studies with NAV-240 in the coming months and delivering on our commitment to innovation that enhances patient care.”
Wouter Joustra, General Partner at Forbion, added, “Given Forbion’s experience in building and guiding life sciences companies, partnering with Navigator allows NAV-240 to reach its full potential. We are confident that Navigator has the right expertise and is now well resourced for the development of this promising therapy and pipeline to benefit patients in need.”
In conjunction with the financing, Mr. Joustra and Dr. Andrew Levin, Partner and Managing Director at RA Capital Management, will join the Board of Directors at Navigator. “This is an exciting opportunity to take a big step forward in therapeutic standards and transform patient care,” said Dr. Levin.
