Clinical stage BioTech firm NodThera has secured $55 million (£43m) in Series B financing.

Edinburgh-based NodThera is developing a new class of medicines to treat diseases driven by chronic inflammation and has offices in Cambridge, Seattle and Boston.

Its lead candidate, NT-0167, is being evaluated in a Phase 1 clinical trial in healthy volunteers.

Proceeds from the financing will be used to advance NT-0167 through clinical studies, further progress the development of additional compounds and continued drug discovery efforts.

“The NLRP3 inflammasome is one of the most exciting emerging areas of drug discovery,” said Henrijette Richter, Managing Partner at Sofinnova Partners.

“Therapeutics that disrupt the NLRP3 inflammasome to inhibit damaging inflammatory processes have the potential to help patients with many chronic diseases.

“NodThera has distinguished their science in a field that holds huge promise and we look forward to the company’s further progress.”

Joining the NodThera Board as part of this Series B financing will be Nanna Lüneborg, Partner at Novo Ventures, Kevin Raidy, Managing Partner at Cowen Healthcare Investments and Alex Pasteur, Partner at F-Prime Capital.

“Millions of people live with diseases in which chronic inflammation plays a role,” said Lüneborg.

“NodThera’s approach to selectively target the NLRP3 inflammasome without broadly suppressing the immune system is an enormously promising strategy for developing therapies that can help these patients.”