Clinical-stage biopharmaceutical company, N30 Pharmaceuticals, recently announced that it raised $30 million in a mezzanine round of financing, which will be used to accelerate the development the company’s investigational therapy for the treatment of cystic fibrosis (CF). The novel drug is called N91115 and N30 Pharma has successfully completed its phase 1 clinical trials.
The funding will help advance the research program for the company’s novel inhibitor of S-nitrosoglutathione reductase (GSNOR), N91115, for the treatment of patients suffering from the F508del-CFTR mutation, the most common cystic fibrosis mutation. The development of the drug is ready to move into phase 2 trials, following encouraging phase 1 results.
After completing a phase 1 dose-escalation trial of orally administered N91115 in healthy volunteers, N30 Pharma announced that N91115 is well tolerated by CF patients with the F508del-CFTR mutation, which affects approximately 90% of all CF patients. Other preclinical studies have already demonstrated the compound’s efficiency in increasing the function of F508del-CFTR.
“We are proud to be backed by this impressive group of new and existing investors, and to advance the clinical trial program for N30 Pharma’s lead compound, N91115, in the treatment of cystic fibrosis,” said the chairman of the board of directors of N30 Pharma, Howard Furst, M.D. “N91115 is the first oral GSNOR inhibitor to enter clinical development, representing an important step towards identifying treatments to address a disease with significant unmet need.”
Patients with a mutation in the F508del-CFTR gene produce an abnormal form of the CFTR protein leading to an inability to properly transport fluid. N30 Pharma expects N91115 to not only increase CFTR function, but also to restore the adequate hydration to critical organs, particularly in the lungs.
N30 Pharma was the first company to both find and develop small molecules targeting GSNOR, and has been dedicated to developing a drug that can improve the lives of patients living with the life-threatening genetic disease that affects both the lungs and the digestive system of about 30,000 people in the United States alone, and 70,000 people throughout the world.
“We sincerely appreciate the support of all our investors and their confidence in our ability to develop this first-in-class therapy for CF,” said the executive vice president of product development and regulatory affairs at N30 Pharma, Janice Troha.