NeRRe Therapeutics, a new drug discovery company, has been launched to develop a portfolio of clinical and pre-clinical neurokinin receptor antagonists divested from GlaxoSmithKline (GSK).

NeRRe has raised $18.4 million in Series A financing to support the progression of these molecules into clinical studies in diseases for which there is substantial unmet medical need. The initial focus of the funding is on the most advanced neurokinin-1 receptor antagonist in this pipeline which is being repositioned for a new indication.

The company founders, Dr. Emiliangelo Ratti and Dr. Mike Trower, are both former senior leaders of neurosciences drug discovery at GSK and have intimate knowledge of the transferred assets and the neurokinin field. Ratti will serve as CEO of NeRRe and Trower will take on the role of chief scientific officer.

NeRRe Therapeutics' shareholders include Novo, Advent Venture Partners and GSK. Dr. Martin Edwards of Novo and Dr. Raj Parekh of Advent will each join NeRRe's board of directors.

The company will be based at the state-of-the-art Stevenage Bioscience Catalyst, the U.K.'s first open innovation bioscience campus.

"I am extremely excited about the prospect of progressing further the development of NeRRe's neurokinin receptor antagonist pipeline,” said Ratti. “With our knowledge and insights into the neurokinin receptor system, we look forward to developing these assets in high value indications where there is unmet need. I am pleased to acknowledge the strong support received from GSK to launch this new enterprise together with the commitment received from our investors, who share our belief in the potential of the company's portfolio."