SiteOne secures $100 million for non-opioid analgesics

SiteOne Therapeutics has announced the completion of a $100 million series C financing, led by Novo Holdings, with participation from OrbiMed, Wellington Management, Mission BioCapital, and others.

The company’s lead program targets the NaV1.8 sodium channel, an approach which scientists believe could provide effective pain relief while reducing the side effects and abuse potential associated with current opioid-based treatments.

Chief executive John Mulcahy said: “This funding will enable human proof-of-concept studies on our isoform-selective sodium channel inhibitors and support the development of other ion channel modulators.”