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news.Centrexion Therapeutics has secured $67m funding to launch phase 3 progam of CNTX-4975 therapy for the treatment of chronic pain due to knee osteoarthritis (OA).
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CNTX-4975 is a non-opioid therapy, which is designed to inject directly into the painful joint.
The company has secured funding in the series D financing round led by New Enterprise Associates (NEA).
New and existing investors have participated in the round, including Quan Capital, ArrowMark Partners, certain investment funds advised by Clough Capital Partners, InterWest Partners, 6 Dimensions Capital, and Efung Capital.
Based on Centrexion’s Strati technology, CNTX-4975 is a potent and synthetic form of trans-capsaicin.
CNTX-4975 acts by targeting the capsaicin receptor (TRPV1) to selectively and quickly inactivate the local pain fibers transmitting signals to the brain.
According to the company, a single injection of CNTX-4975 has provided quick pain relief to patients with moderate to severe OA pain in the completed clinical trials.
In the phase 2b Triumph clinical trial, the novel therapy has reduced pain within and continued through six months, said the company.
Centrexion Therapeutics CEO Jeffrey Kindler said: “With our CNTX-4975 data demonstrating an impressive degree of pain relief and an adverse event profile similar to placebo, we are looking forward to advancing this potential new therapy, which we believe can benefit millions of people suffering from chronic pain.
“We will also further advance our deep clinical pipeline of other non-opioid therapies that address new and emerging biological targets for pain.”