• 6 January 2014
    NeoMed invests in TopiVert in a 17 million new funding round

    TopiVert Limited, a drug discovery and development company dedicated to improving patient care in inflammatory diseases of the gut and the eye, has announced that it has closed a £17 million financing round.

    New investors NeoMed Management and Johnson & Johnson Development Corporation (JJDC) led the round with participation from TopiVert’s existing investors SV Life Sciences and Imperial Innovations Group plc.

    TopiVert is a private UK-based company that was founded in 2011 with intellectual property and know-how from RespiVert, a company acquired by Johnson & Johnson in 2010. The company is developing Narrow Spectrum Kinase Inhibitors for the topical treatment of inflammatory diseases in the gut and the eye.

    Existing treatments for both these conditions are generally not satisfactory for patients and TopiVert aims to offer NSKIs that have an equivalent level of efficacy to steroids, yet without the negative side effects and potential resistance.

    The market for inflammatory bowel disease in the United States, Japan and Europe is expected to reach $5.9 billion by 2019 (Datamonitor), and the global market for uveitis to reach $1.6 billion by 2017 (Global Data).

    “This financing comes following successful preclinical milestones and we are excited to join the business as it prepares for its next stage of growth and clinical development” said Dina Chaya, partner at NeoMed Management, who will be joining the TopiVert board.