# Nitrome Biosciences

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/nitrome-biosciences

- Industry: Pharmaceuticals
- Headquarters: Brisbane, US
- Website: www.nitrasetx.com
- Total disclosed funding: $24M
- Latest round: Series A (Nov 2, 2021)
- Investors on record: 6

## About

Nitrome Biosciences, Inc. is a biotechnology company focused on developing innovative therapies for neurodegenerative diseases, utilizing their proprietary NITROME Platform to explore novel nitrases and their therapeutic potential.Nitrome Biosciences, Inc. specializes in creating antibody candidates aimed at treating neurodegenerative diseases. Founded in 2017 and headquartered in Brisbane, US, the company has completed a total of 8 deals, with its most recent funding round being Series A in April 2022, where it raised USD 7.00 mn, led by Bristol-Myers Squibb Company. Irene Griswold-Prenner is both the CEO and the founder of the company, which has not undergone any significant pivots or structural changes since its inception.Nitrome Biosciences, Inc. focuses on the development of antibody candidates specifically for neurodegenerative diseases such as Parkinson’s Disease. Their primary offerings stem from the NITROME Platform, a proprietary technology designed to identify and characterize nitrases, which are novel enzymes implicated in various diseases. This platform aids in pinpointing new nitrases and their nitro-substrates, revealing their biological functions and therapeutic possibilities. Their target clientele includes healthcare providers, research institutions, and pharmaceutical companies across North America, Europe, and Asia, addressing critical medical needs in protein nitration-related conditions.The company generates revenue through strategic partnerships and collaborations with biotech firms and research organizations. Nitrome Biosciences, Inc. may engage in B2B transactions by licensing its NITROME Platform technology for drug development, alongside potential income from milestone payments tied to clinical development progress. Additionally, they may earn revenue from proprietary therapeutics currently in clinical trials aimed at conditions like Parkinson’s Disease, with pricing structures reflecting the complexities of drug development and varied according to partnership agreements, aligning with the value provided by their therapeutic innovations.Nitrome Biosciences, Inc. plans to utilize grant funding received in April 2022 from The Michael J. Fox Foundation to expedite research on nitrated alpha-synuclein, a potential biomarker for predicting and diagnosing Parkinson’s Disease. This initiative aims to enhance their product development pipeline and could lead to new therapeutic approaches. Furthermore, the company is exploring opportunities to expand its market presence in North America, Europe, and Asia, targeting new partnerships within these regions to leverage their NITROME Platform technology and address broader medical needs associated with neurodegenerative diseases.

## Funding rounds

- Series A, Nov 2, 2021, $7M — Sofinnova Partners, Alexandria Venture Investments, SV Health Investors, Mission Bay Capital, Bristol-Myers Squibb Company, AbbVie Ventures
- Series A, Apr 8, 2020, $17M — Sofinnova Partners, Alexandria Venture Investments, SV Health Investors, Mission Bay Capital, AbbVie Ventures

## Investors

- Sofinnova Partners (https://capitalatlas.ai/funds/sofinnova-partners) — Series A
- Alexandria Venture Investments (https://capitalatlas.ai/funds/alexandria-venture-investments) — Series A
- SV Health Investors (https://capitalatlas.ai/funds/sv-health-investors) — Series A
- Mission Bay Capital (https://capitalatlas.ai/funds/mission-bay-capital) — Series A
- AbbVie Ventures (https://capitalatlas.ai/funds/abbvie-ventures) — Series A
- Bristol-Myers Squibb Company — Series A