UK-based women’s health company, KaNDy Therapeutics, has raised £25 million in Series C funding to advance its breakthrough non-hormonal drug candidate.
The round saw US investment company Longitude Capital join life sciences investors Advent Life Sciences, Fountain Healthcare Partners, Forbion Capital Partners and OrbiMed.
Funds will see the advancement of NT-814 to treat multiple symptoms of the menopause, through a multi-country Phase 2b dose-ranging study.
The study is due to start recruiting patients in Q4 2018 with headline results expected in late 2019.
NT-814 is an orally administered once daily, potent and selective small molecule dual antagonist of both the neurokinin-1 and 3 receptors.
It is being developed by KaNDy Therapeutics to provide a viable alternative to hormone replacement therapy.
In June 2018, the company reported positive data from the Phase Ib/IIa proof of concept clinical trial which showed that women who were treated with NT-814 once daily for two weeks experienced a rapid and profound reduction in two key symptoms of the menopause.
Mary Kerr, CEO of KaNDy Therapeutics, said: “Our investors and the KaNDy management team are united by the common belief that NT-814 has the potential to be a transformational treatment for the millions of women worldwide who suffer debilitating symptoms of the menopause.”