• NAV-240 is a potential best-in-class bispecific antibody targeting OX40L and TNFα currently in Phase 1 development for complex autoimmune diseases
• In connection with the transaction, Navigator Medicines has closed a $100M Series A financing, co-led by RA Capital Management and Forbion, to support the development of NAV-240 as well as a pipeline of OX40L-targeted mono- and bispecific antibodies
• Dana McClintock, MD, joins the Company as Chief Medical Officer

August 27, 2024 07:00 AM Eastern Daylight Time

SCOTCH PLAINS, N.J.–(BUSINESS WIRE)–Navigator Medicines, Inc., a privately-held biotech company leading the advancement of biologics for targeted immune regulation and restoration, today announced a Series A financing alongside the in-licensing of NAV-240 and an OX40L-targeted portfolio from IMBiologics Corp.

NAV-240, formerly known as IMB101, is a clinical-stage bispecific antibody against OX40L and TNFα, two clinically-validated targets that are critical in the pathogenesis of several inflammatory diseases. Dual targeting of both OX40L- and TNFα-driven signaling pathways may improve upon the efficacy of either monotherapy alone as a potential treatment option for complex, heterogenous diseases with unmet medical needs. In connection with the transaction, Navigator has closed a $100M Series A financing, co-led by RA Capital Management and Forbion.

“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,” said Dr. Dana McClintock, CMO of Navigator Medicines. “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.”

Wouter Joustra, General Partner at Forbion, added, “Given Forbion’s experience in building and guiding life sciences companies, partnering with Navigator allows NAV-240 to reach its full potential. We are confident that Navigator has the right expertise and is now well resourced for the development of this promising therapy and pipeline to benefit patients in need.”

In conjunction with the financing, Mr. Joustra and Dr. Andrew Levin, Partner and Managing Director at RA Capital Management, will join the Board of Directors at Navigator. “This is an exciting opportunity to take a big step forward in therapeutic standards and transform patient care,” said Dr. Levin.

About Navigator Medicines

Navigator Medicines is a biotech company leading the advancement of biologics for targeted immune regulation & restoration. Founded in 2024 as a subsidiary of Sera Medicines, the Company is committed to developing new therapies for patients living with complex, heterogeneous autoimmune diseases. For more information, visit navigatormedicines.com

About Forbion

Forbion is a leading global venture capital firm with deep expertise in Europe and offices in Naarden, The Netherlands, Munich, Germany and Boston, USA. Forbion invests in innovative biotech companies, managing €3.2 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. In addition, Forbion leverages its extensive biotech expertise in human health to also address ‘planetary health’ challenges through its BioEconomy fund strategy, which invests in companies using biotechnologies for sustainable solutions in areas like environmental tech, AgTech and food tech. Forbion’s team consists of over 30 investment professionals that have built an impressive performance track record since the late nineties with investments in over 110 companies across 9 funds. Forbion’s record of sourcing, building and guiding life sciences companies has resulted in many approved breakthrough therapies and valuable exits. Forbion typically selects impactful investments that will positively affect the health and well-being of patients, as well as meet its financial return objectives. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.

About RA Capital Management

RA Capital Management is a multi-stage investment manager dedicated to evidence-based investing in public and private healthcare, life sciences, and planetary health companies. RA Capital Management forms and funds innovative companies, from private seed rounds to public follow-on financings, allowing management teams to drive value creation from inception through commercialization and beyond. RA Capital Management’s knowledge engine is guided by our Tech Atlas internal research division, and our company creation team, RA Ventures (RAVen), offers experienced entrepreneurs a collaborative and comprehensive platform to explore the novel and the re-imagined.

Contacts

For Media, Business or Investor Inquiries, please contact: info@navigatormedicines.com

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