Trevi Therapeutics has completed a Series C financing of $50.5 million.The Company plans to use the proceeds from the financing to advance the development of Nalbuphine® ER, a drug with a dual agonist/antagonist mechanism of action uniquely suited to treating itch associated in various dermatologic, metabolic, hematologic, and neuropathic conditions.

Trevi previously announced positive Phase 2 trial results in reduced itch intensity and other supporting efficacy endpoints in patients with prurigo nodularis, as well as a statistically significant reduction in itch intensity in a Phase 2/3 trial in uremic pruritus.

The Company also conducted a six-month open label extension study in uremic pruritus, in which Nalbuphine ER was well tolerated and showed a durability of drug effect on efficacy, and recently completed a one-year open label extension trial conducted in prurigo nodularis.

The Series C financing was led by New Enterprise Associates and included new investors Lundbeckfonden Ventures, Omega Funds, and Aperture Venture Partners, along with the Company’s largest existing investor, TPG Biotech.