Biotechnology company Inotrem has secured series B funding to develop immunotherapy candidates targeting septic shock and chronic inflammatory conditions.

The €39m financing round was led by Morningside Ventures, with participation from Invus, Andera Partners, Sofinnova Partners and BiomedInvest.

Inotrem will use the proceeds for the clinical development of its lead candidate, an anti-TREM-1 peptide called nangibotide, in the Phase IIb ASTONISH trial involving approximately 450 septic shock patients.

The study is intended to validate the drug candidate’s efficacy and investigate its companion diagnostic, which detects soluble TREM-1 as a biomarker to identify patients who are more likely to experience therapy response.

The trial will be conducted at 48 sites across the US and Europe and is set for initiation by the end of the year.

Furthermore, the series B funds will be leveraged to expand Inotrem’s TREM-1 pathway-targeting portfolio for chronic inflammatory diseases.

The company’s platform builds on immunomodulation of the TREM-1 pathway. It used to develop programmes for inflammatory syndromes with high unmet therapeutic need.

Inotrem CEO Jean-Jacques Garaud said: “This financing validates the potential of our technology platform centred on the TREM-1 pathway and of our lead drug candidate for septic shock, nangibotide, which will be entering a large Phase IIb clinical trial later this year.”

Septic shock and rising incidence and mortality in developed countries present strong links. Currently, the condition lacks specific mechanism-based therapies. Nangibotide is intended to address this medical need.

In preclinical models of septic shock, the drug candidate demonstrated the ability to restore suitable inflammatory response and vascular function, as well as improved survival.

Nangibotide secured fast track designation from the US Food and Drug Administration (FDA) in septic shock earlier this month.