Trevi Therapeutics to Raise Up To $74 Million in IPO

April 22, 2019

Clinical stage biopharmaceutical company, Trevi Therapeutics, updated their filing for an IPO to raise up to $74 million. Trevi is focused on the development and commercialization of nalbuphine ER to treat serious neurologically mediated conditions. The company intends to trade under the symbol “TRVI.”

Trevi is developing an oral formulation of the small molecule drug nalbuphine. Injectable nalbuphine has a 20 year track record in Europe. Nalbuphine ER has a dual mechanism of action, acting as both an antagonist (blocker) to the body’s mu opioid receptor and as an agonist (activator) to the kappa opioid receptor. The kappa and mu opioid receptors are known to be critical mediators of the urges to scratch and cough, as well as of certain movement disorders.

The company is currently developing or studying the drug in five conditions. It is in Ph III trials for Prurigo Nodularis. Prurigo Nodularis. Is a chronic, intensely pruritic dermatological condition characterized by the presence of pruriginous lesions such as papules, nodules or plaques, which may be associated with excoriations and ulcerations.

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