Scotch Plains-based Navigator Medicines on Tuesday announced $100 million in Series A financing alongside the in-licensing of newly acquired autoimmune portfolio from IMBiologics Corp.
The company, which was founded earlier this year as a subsidiary of Sera Medicines, has bought itself a pipeline of OX40L-targeted mono- and bispecific antibodies.
“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,” Dr. Dana McClintock, chief medical officer of Navigator Medicines, said. “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 programs 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.”
