Novara Therapeutics, an antiviral drug discovery company, has secured $23m in Series A financing to support the development of capsid-targeting antivirals to treat chronic hepatitis B (HBV) and HIV infections.
The company's antiviral drugs are designed to target the function of capsid, a viral protein required for the replication and transmission of the virus particle.
The important aspects of capsid function includes the assembly of new viral particles and the disassembly of the particles following infection of a new cell, which the oral antiviral drugs aim to inhibit.
Novira president and chief scientific officer Osvaldo Flores said, "We believe the capsid-targeting approach holds much potential as a treatment for chronic HBV and HIV infections, and now, with the support of additional strong investors, we are able to advance these first-in-class antiviral drugs into the clinic."
By inhibiting capsid function, the antiviral drugs are expected to prevent further spread of the virus thereby offering new therapy for viral diseases.
5AM Ventures and Canaan Partners have co-led the financing and were latter joined by WuXi PharmaTech in addition to existing investors BioAdvance, Mid-Atlantic Angel Group, Robin Hood Ventures and Delaware Crossing Investment Group.
