“Our strategy is focused on owning the action potential, the fundamental unit of electrical signaling in the peripheral nervous system,” Mulcahy explained.
Expanding Scientific and Strategic Leadership
The funding announcement also highlighted significant changes to SiteOne’s board. Novo Holdings senior partner Ken Harrison, OrbiMed partner Mona Ashiya, and Mission BioCapital partner Zach Collins have joined the board. Praveen Tipirneni, formerly CEO of Morphic Therapeutic, will serve as executive chairperson, while life sciences advisor Martin Edwards joins as an independent board member.
Harrison praised SiteOne’s focus on ion channel modulators, saying, “SiteOne has built upon years of research on the contribution of ion channels to peripheral nerve excitability, and we are very encouraged by the company’s underlying science and its mission to transform pain management for patients living with chronic pain in the U.S. and around the globe.”
Revolutionizing Pain Management
With its focus on selective ion channel modulators, SiteOne aims to address the pressing need for non-opioid pain treatments. The funds will support the exploration of sodium channels and other validated targets to treat sensory hyperexcitability disorders, including chronic pain and cough.
