#Novo Holdings #Denmark #Copenhagen #fibrosis #Tribune Therapeutics

Novo Holdings Joins €23 Million Funding for Tribune Therapeutics

In an exciting development for the biotechnology field, Novo Holdings has announced its participation in a €23 million Series A funding round aimed to bolster Tribune Therapeutics, a company dedicated to addressing fibrotic diseases. This funding round, led by LifeArc Ventures, also includes contributions from several notable investors, demonstrating a robust interest in advancing innovative solutions for medical challenges.

Tribune Therapeutics was co-founded in 2020 by Novo Holdings and HealthCap Ventures with the mission to create disease-modifying therapies that focus on the core issues causing fibrosis. Fibrotic diseases, which can significantly impact a patient's quality of life, often arise when the body forms excessive scar tissue in response to injury or disease. The need for effective therapies that can address these conditions at their root is paramount, making Tribune's work critically important.

A significant portion of this funding will be allocated to advance Tribune's lead program, known as TRX-44. This therapeutic candidate aims to treat conditions such as idiopathic pulmonary fibrosis (IPF). TRX-44 works by mimicking a naturally occurring protein that blocks the pro-fibrotic actions of other harmful proteins in the CCN family, which are implicated in scarring and tissue damage. By focusing on these mechanisms, TRX-44 represents a promising advancement in treating fibrotic conditions.

João Ribas, a principal at Novo Holdings, commented on the promising science behind Tribune, recognizing its foundational discoveries in understanding CCN proteins and their signaling pathways. The potential applications of this research could pave the way for effective treatments for life-altering and often terminal fibrotic diseases.

Tribune Therapeutics is not only focused on a singular pathway but aims to explore the broader implications of targeting fibrosis in various contexts, enriching the field with comprehensive therapeutic options. The CEO of Tribune, Georg Vo Beiske, highlighted the transformative potential of its scientific insights and how they can impact patient care. He emphasized the importance of having strong investors like Novo Holdings backing the company as it moves toward clinical trials, further boosting their confidence in novel treatment strategies.

The investment from Novo Holdings follows funding from the Novo Nordisk Foundation through a Pioneer Innovator Grant Program. This program supports pioneering scientific discoveries that aim to improve health and sustainability across society. The grant facilitated key experiments at Oslo University Hospital led by esteemed researchers, which eventually contributed to the inception of Tribune.

As of the end of 2023, Novo Holdings manages a portfolio that encompasses various asset classes aimed at fostering long-term returns while also focusing on health and sustainability. Their strategic investments in biotechnology and life sciences are indicative of a commitment to addressing significant health challenges while generating returns for their stakeholders.

In summary, this recent funding round signals a substantial commitment to advancing anti-fibrotic therapies that have the potential to reshape treatment landscapes for fibrotic diseases. The collaboration between innovative biotechnological science and capable investors heralds a promising era for patients affected by such debilitating conditions.

To learn more about Tribune Therapeutics and their groundbreaking work, please visit Tribune's website.