DOYLESTOWN, Pa., March 25, 2013 /PRNewswire/ -- Novira Therapeutics, Inc. today announced the completion of its Series A financing after securing $7.5 million from new investor Versant Ventures. This brings the total raised from all investors in the round to $25 million. Versant joins 5AM Ventures and Canaan Partners, which led the first closing of the Series A in August 2012. In conjunction with this investment, Gianni Gromo M.D ., Ph.D., venture partner with Versant Ventures, joined the company's board of directors.
"We believe the addition of Versant bolsters an already strong investor syndicate," said Osvaldo Flores , Ph.D., president and chief scientific officer of Novira. "We also welcome Gianni to our board and believe his extensive industry experience will contribute greatly to our future success. We plan to use these funds to advance development of our hepatitis B virus (HBV) capsid inhibitor lead program toward the clinic and to discover additional HBV drug candidates."
Dr. Gromo added, "Novira's innovative HBV capsid inhibitor program and the company's highly experienced management team made this an attractive investment for Versant. We believe that Novira's approach to HBV capsid inhibition may disrupt pathways involved in virus persistence and has the potential to produce treatments that can cure millions of patients worldwide who are living with chronic HBV infection."
About Hepatitis B
More than 2 billion people worldwide have been infected with HBV at some time in their lives. Adults with a healthy immune system are capable of clearing HBV infection, but newborns, young children and immunocompromised patients frequently become chronically infected. Approximately 400 million people worldwide suffe
|SOURCE Novira Therapeutics, Inc.|
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