Navigator secures $100M for autoimmune disease bispecific advancement

Navigator Medicines has secured $100 million in a Series A funding round from RA Capital and Forbion. This substantial investment will be used to support the clinical development of a bispecific antibody, NAV-240, which the company has in-licensed from South Korean biotech firm IMBiologics. NAV-240, formerly known as IMB-101, targets both OX40L and TNFα, which are significant in the development of various inflammatory diseases.

Navigator obtained the rights to NAV-240 and another compound, IMB-102—an OX40L-targeting monoclonal antibody—through a technology transfer agreement with IMBiologics in June. The agreement is valued at $944.8 million, which includes an upfront payment. This transfer also led to a partnership where Huadong Pharmaceutical of China received rights to develop these candidates in Asia, with the exception of South Korea, North Korea, and Japan, as announced in August.

Presently, NAV-240 is undergoing a Phase I clinical trial involving both healthy volunteers and patients suffering from active rheumatoid arthritis. This study is expected to be completed by the end of 2025, according to ClinicalTrials.gov.

Dana McClintock, who will be joining as the Chief Medical Officer, stated that the new financing would allow Navigator, a subsidiary of Sera Medicines, to initiate additional trials for NAV-240 in the coming months. McClintock brings a wealth of experience to the role, having spent nine years at Genentech, where she led innovation efforts in immunology, infectious diseases, and ophthalmology. Most recently, she served as the Chief Medical Officer at Alladapt Immunotherapeutics.