Novira Therapeutics Secures $23M in Series A Financing
Summary
Novira Therapeutics Inc., a Radnor, PA-based antiviral drug discovery company, has secured $23m in Series A financing.The round was co-led by new investors 5AM Ventures and Canaan Partners with participation from WuXi PharmaTech as well as existing investors BioAdvance, Mid-Atlantic Angel Group, Robin Hood Ventures and Delaware Crossing Investment Group (DCIG).The company intends to use the capital to develop its capsid-targeting antivirals for the treatment of chronic hepatitis B (HBV) and HIV infections.HBV infection is a disease for which the only class of oral drugs available, polymerase inhibitors, are rarely curative and often require lifelong treatment.Chronic HIV infection is a disease for which the continued ability of the virus to mutate inevitably leads to drug-resistant viral strains.