Goodwin Advised Nuvig Therapeutics on $161 Million Series B Financing and Progression to Phase 2 Development with Novel, Second-Generation Immunomodulator

The Life Sciences team advised Nuvig Therapeutics, Inc., (“Nuvig”) on the closing of a $161 million Series B financing co-led by Sanofi Ventures, Blue Owl Healthcare Opportunities (formerly Cowen Healthcare Investments), and Norwest Venture Partners, with participation from new investors, B Capital, Leaps by Bayer, Global BioAccess Fund, LOTTE Holdings, Alexandria Venture Investments, and funds managed by abrdn Inc., and existing shareholders, Novo Holdings A/S, Platanus, Bristol Myers Squibb, Digitalis Ventures, and Mission BioCapital. The proceeds from the Series B financing will support clinical proof-of-concept studies for NVG-2089 and advance Nuvig’s preclinical pipeline. The company is progressing NVG-2089 to Phase 2 clinical development in chronic inflammatory demyelinating polyneuropathy (CIDP) and other undisclosed indications for which there is high unmet need for non-immunosuppressive, efficacious new therapies.

Nuvig Therapeutics is a clinical-stage biotechnology company that is advancing an innovative and transformational pipeline of novel immune therapeutics for chronic inflammatory and autoimmune diseases. The Company’s lead investigational drug candidate, NVG-2089, is an engineered Fc fragment designed to precisely target type II Fc receptors. When NVG-2089 binds to its target, it upregulates the expression of FcγRIIb and causes the expansion of T regulatory cells and the downregulation of numerous inflammatory pathways. Nuvig is based in Menlo Park, California.

The Goodwin team was led by Kim Maruncic, Kingsley Taft, and Maggie Wong; Noelle Dubiansky, Nancy Urizar and GG Guckaya and Jake Osborn.

For more information on the deal, please read the press release and coverage in Endpoints News.