– NETHERLANDS, Naarden – NewAmsterdam Pharma, a clinical-stage company focused on the research and development of transformative therapies for cardio-metabolic diseases, today announced the completion of a €160M Series A funding round co-led by Forbion Capital Partners, Morningside Ventures, and Ascendant BioCapital alongside Kaiser Foundation Hospitals, BVF Partners L.P., Population Health Partners, LSP Dementia Fund, Peter Thiel, Janus Henderson Investors, Medpace, GL Capital, JVC Investment Partners, and Presight Capital also participating in this funding round.
The financing will support the full Phase 3 development of its ApoB and LDL-c lowering small molecule drug, obicetrapib. The drug, a cholesteryl ester transfer protein inhibitor, is being developed for patients who are not well-controlled on statins.
“This is an important milestone in the advancement of obicetrapib and the growth of NewAmsterdam Pharma,” said CEO, Dr. Michael Davidson. “The tremendous support of our investors allows us to initiate a large, Phase 3 development program as we work to create a new option for the millions of high cardiovascular risks patients globally who, despite maximally tolerated statin therapy, require additional LDL-c lowering options.”
“Effectively inhibiting CETP to reduce atherosclerotic risk in patients is something Dr. Davidson and I have been endeavoring to achieve in our field of research for more than two decades,” said CSO, Dr. John Kastelein. “Long term follow up from the 2017 REVEAL study validated CETP as a target to lower LDL-c and reduce major adverse cardiac events.1 We believe that in obicetrapib, based on clinical studies to date, we have a molecule which is well tolerated and has not shown any of the safety issues of previous CETP inhibitors. Furthermore, based on the surrogate endpoints of the REVEAL study, obicetrapib was shown to be more effective at lowering LDL-c at a 5 mg dose in comparison to a 100 mg dose of anacetrapib.”
“We are very pleased to support the development of obicetrapib and contribute to the success of NAP,” said Jason Dinges of Morningside. “We believe that obicetrapib has a unique efficacy and safety profile that will further demonstrate not only a potent LDL-c lowering ability but other key attributes which could potentially benefit the large and underserved number of patients at risk of cardiovascular disease. We have confidence in the deep expertise and proven track record of Dr. Davidson and Dr. Kastelein to deliver these results.”
“Cardiovascular disease remains the leading cause of disability-adjusted life years globally, and tens of millions of patients struggle to reach LDL-c goals on current therapies, demonstrating a clear need for novel agents,” said Dr. Gaurav Gupta, MD of Ascendant BioCapital. “CETP-silencing mutations correspond to lower cardiovascular risk, and given the potent pharmacology demonstrated in the TULIP study2, we expect obicetrapib to become a significant part of the treatment paradigm for dyslipidemia globally.”
About NewAmsterdam Pharma
Founded in 2019 by the venture capital firm Forbion and John Kastelein, NewAmsterdam Pharma is a privately held, clinical-stage company focused on the research and development of transformative therapies for cardiometabolic diseases. Its mission is to improve patient care in populations where traditional therapies are not tolerated or have been unsuccessful. In April 2020, NewAmsterdam acquired Dezima Pharma from Amgen, including all rights for obicetrapib a selective cholesteryl ester transfer protein inhibitor. The Company is investigating obicetrapib as the preferred ApoB and LDL-c lowering therapy for patients with ASCVD/FH on the maximally tolerated dose of statin therapy. NewAmsterdam Pharma is headquartered in Naarden, The Netherlands.
For more information: https://www.newamsterdampharma.com/
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