CAMBRIDGE, Mass.--(BUSINESS WIRE)--Nimbus Therapeutics, a biotechnology company designing breakthrough medicines through structure-based drug discovery and development, today announced the close of a $60 million private financing round from life science investors RA Capital Management and BVF Partners L.P. (“RA” and “BVF”, respectively). The funds support the acceleration of Nimbus’ Phase 1 allosteric tyrosine kinase 2 (TYK2) inhibitor into Phase 2 early next year, its hematopoietic progenitor kinase 1 (HPK1) inhibitor into the clinic next year, as well as the advancement of its preclinical portfolio of new medicines.
“Today’s financing evidences the remarkable success of our structure-based drug discovery approach and the exciting data our pipeline has generated,” said Jeb Keiper, M.S., MBA, Chief Executive Officer of Nimbus. “This financing also defines a pathway for our future, and while we could not welcome all the investors with interest in Nimbus into this round, we expect with continued success to build on this financing by bringing on additional new investment in 2021.”
“Nimbus’ compelling TYK2 clinical data clearly positions us for a Phase 2b trial, which will generate data on the same endpoints as BMS’ TYK2 program,” said Bruce Booth, D.Phil., co-founder and Chairman of the Board of Nimbus. “We are fortunate to have RA and BVF join Nimbus, and we welcome Laura Stoppel from RA to the Board.”
“We’re proud to join Nimbus’ circle of investors and to lead this most recent financing round,” said Peter Kolchinsky, Ph.D., a founder and Managing Partner of RA Capital Management. “We see tremendous potential for Nimbus’ lead program, one of only two clinical allosteric approaches to TYK2 inhibition, and for the company’s newly added preclinical programs to address important therapeutic needs in oncology, immunology, and metabolism.”
About Nimbus Therapeutics
Nimbus Therapeutics designs breakthrough medicines. Utilizing its powerful structure-based drug discovery engine, Nimbus designs potent and selective small molecule compounds targeting proteins that are known to be fundamental drivers of pathology in highly prevalent human diseases and which have proven difficult for other drug makers to tackle. The company’s LLC/subsidiary architecture enables diverse and synergistic partnerships to deliver breakthrough medicines. Nimbus is headquartered in Cambridge, Mass. www.nimbustx.com.