Novo Holdings A/S is providing $15 million in Series A financing for the launch of a new San Diego, US-based company with plans to build a portfolio of drugs targeting serious inflammatory diseases. Aristea Therapeutics Inc will use the funds to start a Phase 2 trial of a small molecule anti-inflammatory drug in-licensed from AstraZeneca Plc called RIST4721.
In connection with the financing, Tiba Aynechi and Ken Harrison from Novo Ventures (US) Inc, which is owned by Novo Holdings, will join Aristea’s Board of Directors.