Nuvig Therapeutics Raises $161 Million in Series B Financing for Immunomodulator Advancement

Nuvig Therapeutics, a clinical-stage biotechnology company specializing in novel immune therapeutics for treating chronic inflammatory and autoimmune diseases, has secured $161 million in its Series B financing round. This substantial investment was co-led by Sanofi Ventures, Blue Owl Healthcare Opportunities, and Norwest Venture Partners, with significant participation from both new and existing investors, including B Capital, Leaps by Bayer, and Novo Holdings A/S among others. The financing will enable Nuvig to further develop NVG-2089, its leading investigational drug candidate. NVG-2089 is a second-generation immunomodulator engineered to precisely target type II Fc receptors, crucial in expanding T regulatory cells and regulating inflammatory pathways. This funding marks a pivotal step in advancing NVG-2089 to Phase 2 clinical development, particularly for chronic inflammatory demyelinating polyneuropathy (CIDP), as well as other indications with unmet therapeutic needs. Nuvig's strategic focus on advancing its preclinical pipeline underscores its commitment to addressing the limitations of current immunosuppressive treatments. Based in Menlo Park, California, Nuvig's innovative approach has attracted a diverse group of investors, underscoring strong market confidence in its potential to revolutionize treatments for autoimmune and chronic inflammatory conditions. Legal advice for the transaction was provided by Goodwin, with a team comprising several key legal professionals.