Nuon Therapeutics Inc (SAN MATEO, California), a clinical-stage biotechnology company focused on novel therapies for autoimmune and chronic inflammatory diseases and pain, announced the completion of a $27 million series B financing led by Frazier Healthcare Ventures and Domain Associates LLC. The previous series A investor, GBS Venture Partners of Australia, also participated. The series B funding will enable Nuon to advance its orally available, small-molecule lead compound, tranilast, through phase II clinical trials and support the discovery and development of additional compounds.

Tranilast, N-(3',4'-dimethoxycinnamonyl) anthranilic acid (N-5'), is currently marketed in Japan and South Korea for the treatment of asthma and atopic dermatitis. Tranilast acts by reducing activated T- and B-cells in animal models of rheumatoid arthritis (RA) and multiple sclerosis (MS). Nuon’s strategy is to develop tranilast in new clinical indications covered by its intellectual property and to build a portfolio of additional drugs in autoimmune disease and pain.

The company’s initial programs, based on an exclusive license to technology developed by Imperial College London and Stanford University, are focused on developing tranilast to treat RA, MS, and pain. Dr. Michael Selley, formerly from the Australian National University, and professors Larry Steinman at Stanford University in Palo Alto and Marc Feldmann, Imperial College in London founded the company in 1991. Nuon has its headquarters in San Mateo and has a wholly-owned subsidiary, Nuon Therapeutics Pty Ltd, in Australia where additional discovery and development efforts are located.