Navigator Medicines Secures $100M Series A for NAV-240, a Promising Bispecific Antibody for Autoimmune Diseases

Navigator Medicines, Inc., a privately-held biotechnology company based in Scotch Plains, N.J., has announced a significant milestone with the closure of a Series A financing round and the acquisition of NAV-240 and an OX40L-targeted portfolio from IMBiologics Corp. This financing round, totaling $100 million, was co-led by RA Capital Management and Forbion. The company aims to advance the development of biologics for targeted immune regulation and restoration.

NAV-240, formerly known as IMB101, is a clinical-stage bispecific antibody that targets OX40L and TNFα. These two targets are clinically validated and play a crucial role in the pathogenesis of several inflammatory diseases. By simultaneously targeting both OX40L and TNFα signaling pathways, NAV-240 has the potential to offer improved efficacy over monotherapies, making it a promising candidate for treating complex and heterogeneous diseases with significant unmet medical needs.

Dr. Dana McClintock, Chief Medical Officer of Navigator Medicines, expressed enthusiasm about the company's future endeavors. "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," she said. Dr. McClintock emphasized that the Series A funding will accelerate the development of NAV-240 and other programs in their pipeline. The company plans to initiate additional clinical studies for NAV-240 in the coming months, aiming to enhance patient care through innovative solutions.

Wouter Joustra, General Partner at Forbion, also commented on the partnership, highlighting Forbion's extensive experience in the life sciences sector. "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," said Joustra.

As part of the financing agreement, Wouter Joustra and Dr. Andrew Levin, Partner and Managing Director at RA Capital Management, will join Navigator's Board of Directors. Dr. Levin expressed his optimism about the collaboration, stating, "This is an exciting opportunity to take a big step forward in therapeutic standards and transform patient care."

Founded in 2024 as a subsidiary of Sera Medicines, Navigator Medicines is focused on developing new therapies for patients with complex autoimmune diseases. The company's mission is to leverage its expertise in biologics to regulate and restore the immune system, thereby improving patient outcomes.

Forbion, a global venture capital firm, brings a wealth of expertise to the table. With offices in Naarden, The Netherlands, Munich, Germany, and Boston, USA, Forbion manages €3.2 billion across various fund strategies, covering all stages of pharmaceutical drug development. The firm has a proven track record in sourcing, building, and guiding life sciences companies, resulting in numerous approved therapies and successful exits. Forbion is also committed to responsible investing, as evidenced by its signatory status to the United Nations Principles for Responsible Investment.

RA Capital Management, the other co-leader of the Series A round, is a multi-stage investment manager specializing in healthcare, life sciences, and planetary health companies. The firm supports innovative companies from their inception through commercialization, utilizing its Tech Atlas internal research division and RA Ventures (RAVen) for company creation.

In summary, Navigator Medicines is well-positioned to make significant strides in the field of targeted immune regulation with the support of its investors and partners. The successful Series A financing and acquisition of NAV-240 mark an important step in the company's journey towards developing impactful therapies for autoimmune diseases.

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