Navigator Medicines has secured $100m in a Series A financing round jointly led by RA Capital Management and Forbion to advance bispecific antibody therapeutics.
The financial boost will support the development of NAV-240, an anti-OX40L and anti-TNFα bispecific antibody therapeutic, and a range of mono and bispecific antibodies targeting OX40L, which have been in-licensed from IMBiologics.
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NAV-240, previously known as IMB101, is a clinical-stage bispecific antibody that simultaneously targets OX40L and TNFα. These two targets are clinically validated and play a crucial role in the pathogenesis of various inflammatory diseases.
NAV-240 is undergoing Phase I development, focusing on complex autoimmune diseases.
The dual targeting approach of NAV-240, which inhibits both OX40L and TNFα-driven signalling pathways, may enhance efficacy compared to monotherapies, potentially offering a new treatment option for complex and heterogeneous diseases.
RA Capital Management partner Wouter Joustra and managing director Andrew Levin will become part of the Navigator’s board of directors.
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By GlobalDataDana McClintock will serve as the new chief medical officer of the company.
McClintock said: “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.
“NAV-240 has the potential to make an impact on patients living with autoimmune diseases, and our Series A funding will be pivotal in accelerating its development alongside other exciting programmes within our pipeline. We look forward to initiating additional clinical studies with NAV-240 in the coming months and delivering on our commitment to innovation that enhances patient care.”
The company, established in 2024 as a subsidiary of Sera Medicines, focuses on developing new therapies for patients living with complex, heterogeneous autoimmune diseases.
