Drug discovery company, Nimble Therapeutics, Inc. based in Madison, Wisconsin secured $10 million in equity funding directed by San Francisco-based venture capital firm, Telegraph Hill Partners on April 30.
Nimble Therapeutics spun out of Swiss-based F. Hoffman La Roche as an independent entity to facilitate the expansion of a unique chemical synthesis technology that Roche has been developing for many years. Roche is the world’s largest biotech company with 17 biopharmaceuticals on the market.
“The Roche team saw the value in separating the business to enable it to expand its platform and work on a variety of therapeutic areas with strategic partners,” said Dr. Deval Lashkari, Senior Partner at Telegraph Hill Partners and board director at Nimble Therapeutics, in a press release. “Nimble’s capabilities are truly revolutionary and we are excited to work with the company in a shared vision to grow the business into a leading drug discovery partner for the pharmaceutical industry.”
Nimble Therapeutic’s platform is designed to accelerate the discovery of bioactive macrocyclic peptides of potential therapeutic value. Bioactive macrocyclic peptides are fragments of proteins (building blocks of the body). Nimble Therapeutics has created a host of these peptides as primary candidates for drug development. The company is developing strategic partnerships with leading pharmaceutical companies to leverage its technology across many therapeutic areas.
The ability to synthesize stable bioactive peptides for large scale therapeutic assessment could potentially revolutionize the drug development industry. Nimble Therapeutic’s macrocyclic peptidomimetic platform may be the driver needed to make it happen.
Dr. Jigar Patel formerly Senior Scientist at Roche, now founder and CEO of Nimble Therapeutics, led the project at Roche that developed this proprietary approach for drug discovery and development. He brought on several of his colleagues from his original team at Roche.
“As a fully independent company, Nimble Therapeutics will establish strategic partnerships with pharmaceutical companies to jointly develop unique drug candidates more efficiently across many therapeutic areas,” said Dr. Patel in a press release.
Visit www.nimbletherapeutics.com to learn more about this company.
The post Roche Spin-off Nimble Therapeutics raises Series A financing appeared first on Silicon Prairie News.