SiteOne Secures $100M for Non-Opioid Pain Drugs Amid Vertex Collaboration and Rivalry

SiteOne Therapeutics has successfully closed a $100 million Series C funding round led by Novo Holdings, with additional investments from OrbiMed, Wellington Management, Mission BioCapital, and BSQUARED Capital, among others[1][2]. The company intends to use these funds to further its development of non-opioid pain therapies, particularly targeting the peripheral nervous system to address conditions such as chronic cough, pain, and itch[2]. The financing will support ongoing Phase 1 trials and "proof-of-concept" studies, focusing primarily on modulating sodium channels like NaV1.8 to offer safer pain relief solutions amid growing concerns over opioid abuse[1]. This funding positions SiteOne strongly within a competitive landscape, where it simultaneously collaborates and competes with companies like Vertex Pharmaceuticals[1].