NeRRe Therapeutics created to develop NRAs from GSK; GlycoVaxyn deal with GSK

NeRRe Therapeutics was launched in the UK yesterday to develop a portfolio of clinical and pre-clinical neurokinin receptor antagonists (NRAs) divested from pharma giant GlaxoSmithKline (LSE: GSK). The company will be based at the state-of-the-art Stevenage Bioscience Catalyst, the UK's first open innovation bioscience campus.

NeRRe has raised £11.5 million ($18.4 million) in Series A financing to support the progression of these molecules into clinical studies in diseases for which there is substantial unmet medical need. The initial focus of the funding is on the most advanced neurokinin-1 receptor antagonist in this pipeline which is being repositioned for a new indication.

The company founders, Drs Emiliangelo Ratti and Mike Trower, are both former senior leaders of neurosciences drug discovery at GSK and have intimate knowledge of the transferred assets and the neurokinin field. Dr Ratti will become chief executive of NeRRe and Dr Trower will take the role of chief scientific officer.