– Board appointments following recent $95 million CAD Series C Financing
MONTREAL (CANADA) – October 19, 2022 – Inversago Pharma Inc. (“Inversago”), a clinical stage biotech company with a unique portfolio of peripherally-acting CB1 inverse agonists, today announced the appointment of two new board members: Ed Mathers, BSc, General Partner at New Enterprise Associates (“NEA”) and Nanna Lüneborg, PhD, MBA, General Partner at Forbion.
“It is with great pleasure that I welcome both Ed and Nanna to our Board of Directors at this exciting time for the Company”, said François Ravenelle, PhD, Chief Executive Officer of Inversago Pharma. “Their cumulative experience with public and private biotech companies will be of great value to us as we advance our vision of serving patients suffering from Diabetic Kidney Diseases and Fibrosis with our new class of CB1 inverse agonists”, added Dr. Ravenelle.
Carlo Incerti, Chairman of the Board of Inversago Pharma, commented: “We warmly welcome Ed and Nanna on their timely appointment to our board of directors and look forward to working together with them as the Company prepares for an imminent Phase 2 trial with its lead molecule INV-202. I would also like to extend my appreciation to Tara Nickerson and Dennis Kim for their excellent service to Inversago during their board tenure. On behalf of the Company, I wish them well in their future endeavors.”
For more information on our website about Ed Mathers, Nanna Lüneborg and our complete Board of Directors, click here.
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $24 billion in cumulative committed capital since the firm’s founding in 1977, NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s track record of investing includes more than 260 portfolio company IPOs and more than 440 mergers and acquisitions.
Forbion is a dedicated life sciences venture capital firm with offices in The Netherlands, Germany and Singapore. Forbion invests in life sciences companies that are active in the (bio-) pharmaceutical space. Forbion manages well over EUR 2 billion across multiple fund strategies that cover all stages of (bio-) pharmaceutical drug development. Forbion’s current team consists of over 30 life sciences investment professionals that have built an impressive performance track record since the late nineties with investments in 92 companies. Besides financial objectives, Forbion selects investments that will positively affect the health and well-being of patients. The firm is a signatory to the United Nations Principles for Responsible Investment. Forbion operates a joint venture with BGV, the manager of seed and early-stage funds, especially focused on Benelux and Germany.
About Inversago Pharma
Located in Montreal, Inversago Pharma is a privately owned Canadian biotech company at clinical stage, specialized in the development of new therapies focusing on CB1 blockade, based on first-in-class, peripherally-acting CB1 inverse agonists. Inversago aims to provide new treatment options that improve the lives of patients affected by metabolic conditions such as Diabetic Kidney Disease (DKD), including Diabetic Nephropathy (DN), Type 1 and Type 2 Diabetes (T1D / T2D), Non-Alcoholic Steatohepatitis (NASH), complications of obesity and hypertriglyceridemia (HTG), as well as fibrotic indications like Progressive Fibrosis-Interstitial Lung Disease (PF-ILD), including Idiopathic Pulmonary Fibrosis (IPF) and other conditions.
François Ravenelle, PhD
Chief Executive Officer
Inversago Pharma inc.