Navigator Medicines has secured $100m in a Series A financing round  jointly led by RA Capital Management and Forbion to advance bispecific antibody therapeutics.

The financial boost will support the development of NAV-240, an anti-OX40L and anti-TNFα bispecific antibody therapeutic, and a range of mono and bispecific antibodies targeting OX40L, which have been in-licensed from IMBiologics.

NAV-240, previously known as IMB101, is a clinical-stage bispecific antibody that simultaneously targets OX40L and TNFα. These two targets are clinically validated and play a crucial role in the pathogenesis of various inflammatory diseases.

NAV-240 is undergoing Phase I development, focusing on complex autoimmune diseases.

The dual targeting approach of NAV-240, which inhibits both OX40L and TNFα-driven signalling pathways, may enhance efficacy compared to monotherapies, potentially offering a new treatment option for complex and heterogeneous diseases.

RA Capital Management partner Wouter Joustra and managing director Andrew Levin will become part of the Navigator’s board of directors.

Dana McClintock will serve as the new chief medical officer of the company.

McClintock said: “I am thrilled to join Navigator at this exciting time to advance NAV-240 through the clinic and we are deeply grateful for the support of our partner, IMBiologics, and our investors.

“NAV-240 has the potential to make an impact on patients living with autoimmune diseases, and our Series A funding will be pivotal in accelerating its development alongside other exciting programmes within our pipeline. We look forward to initiating additional clinical studies with NAV-240 in the coming months and delivering on our commitment to innovation that enhances patient care.”

The company, established in 2024 as a subsidiary of Sera Medicines, focuses on developing new therapies for patients living with complex, heterogeneous autoimmune diseases.