NeXeption forms new company, Alexar Therapeutics, to develop novel LXR agonist portfolio

US biopharma management company NeXeption says it has secured $21.5 million in Series A financing to form Alexar Therapeutics, which is focused on developing an innovative portfolio of Liver X receptor (LXR) agonists for both systemic and local use.

LXR agonists are members of the nuclear receptor superfamily that regulate multiple genetic pathways and exhibit potent anti-inflammatory activity. The Series A financing, led by New Science Ventures and Third Point Ventures with participation from Palo Alto Investors, will fund the initial development of Alexar’s lead compound, A-110, a topical LXR agonist for the treatment of inflammatory cutaneous disorders.

Dave Pfeiffer has been named Alexar chief executive and board director. Mr Pfeiffer has than 25 years experience as a senior executive at both large and small life science companies. Most recently, he served as a board member and chief commercial officer of Ellman International, a private equity-backed surgical device and aesthetics company focused on the dermatology market. He began his career at SmithKline Beecham.