Cirius Therapeutics previously known as Octeta Therapeutics announced today the completion of a Series A financing of up to 40 million led by Frazier Healthcare Partners and Novo A/S Cirius will use the proceeds to complete the ongoing EMMINENCE trial a Phase 2b study of MSDC-0602K a next-generation insulin sensitizer for the treatment of patients with non-alcoholic steatohepatitis NASH and liver fibrosis In addition the company announced the appointment of Bob Baltera as chief executive officer Howard Dittrich M D , as chief medical officer and Brian Farmer as chief business officer With the additions to the management team the company will open an office in San Diego while retaining its R&D operations in Kalamazoo
NASH is a severe rapidly progressive form of nonalcoholic fatty liver disease NAFLD which untreated can progress to cirrhosis and liver cancer Approximately 16 million Americans suffer from NASH which is strongly associated with insulin resistance MSDC-0602K addresses insulin resistance which is considered to be a key factor in the initiation and perpetuation of NASH
First-generation insulin sensitizers have shown promising activity in NASH studies including showing significant improvements in fibrosis and inflammation in patients with advanced disease but their use has been limited due to safety concerns Jerry Colca Ph D , Cirius co-founder and vice president of research and development was involved in the early development of the first-generation insulin sensitizer pioglitazone and has conducted decades of research into discovering next-generation approaches for overcoming insulin resistance MSDC-0602K resulted from Dr Colca’s efforts to identify new insulin sensitizers with an improved safety profile compared to previous insulin sensitizers
We believe MSDC-0602K has the potential to be a critical therapeutic tool for treating patients with NASH said Baltera A great deal of experimental data including results from a Phase 2 trial in patients with Type 2 diabetes has been generated demonstrating that these next-generation insulin sensitizers act in a novel way to positively impact the underlying metabolic parameters that drive NASH ”
Baltera Dittrich and Farmer have each successfully built venture-backed companies including Amira Pharmaceuticals for which Baltera served as CEO and was acquired by Bristol-Myers Squibb and NovaCardia for which Dittrich served as chief medical officer and Farmer led corporate development acquired by Merck Dr Colca’s industry experience in metabolic disease research began with The Upjohn Company and continued with the company through its mergers with Pharmacia Monsanto-Searle and Pfizer
Joining Frazier Healthcare Partners and Novo A/S in the financing were new investors Adams Street Partners and Renaissance Venture Capital Fund as well as existing investors including Hopen Life Sciences Ventures In conjunction with the financing Dan Estes Ph D , from Frazier Healthcare and Nilesh Kumar Ph D , of Novo A/S will join Baltera in Board positions and along with existing representatives David Van Andel Mike Jandernoa and Robert Zerbe M D , will comprise the Cirius Board of Directors
At Frazier we believe the future of NASH therapies will be a multi-drug approach with a need for therapies that address the underlying metabolic drivers of disease as well as resultant fibrosis and inflammation said Dr Estes We see a distinct opportunity for MSDC-0602K to become a cornerstone therapy in NASH both as monotherapy but ultimately as part of combination approaches ”
About MSDC-0602K
MSDC-0602K is an oral once-daily next-generation insulin sensitizer that avoids safety liabilities known with first-generation approaches MSDC-0602K has the potential to correct the metabolic disturbance that is a proximate cause of NASH building upon multiple positive studies of first-generation insulin sensitizers in NASH Cirius is currently enrolling the EMMINENCE trial identifier NCT02784444 a Phase 2b study of MSDC-0602K in NASH This randomized study is comparing three doses of MSDC-0602K to placebo in NASH patients with fibrosis and the study includes endpoints identified as suitable for registration studies based on current FDA guidelines
About Cirius Therapeutics
Cirius Therapeutics formerly known as Octeta Therapeutics is a clinical-stage pharmaceutical company focused on developing therapies to treat liver disease The company’s lead product is MSDC-0602K a second-generation insulin sensitizer for the treatment of NASH Cirius is actively enrolling patients in a Phase 2b clinical trial called the EMMINENCE trial to evaluate MSDC-0602K in patients with NASH and liver fibrosis For additional information on the EMMINENCE trial please visit clinicatrials gov using the identifier NCT02784444 For more information about Cirius Therapeutics visit www ciriustx com
Please note that this piece of work originally appeared in English at https://www.vcnewsdaily.com/Cirius%20Therapeutics/venture-funding.php. As Investocracy aims to bring global startup news and updates in both English and Japanese to you, it’s important that we attribute original source to you. If you have any questions/concerns please write to us at contact@investocracy.co
