About NitoMed
NitoMed is a Healthcare company based in Lexington (United States) founded in 1992, and was acquired by Deerfield in January 2009. Nitric oxide enhanced medicines for heart failure treatment are developed. NitoMed has raised $43.4 million across 2 funding rounds from investors including Morgan Stanley, Boston University and Rho Capital Partners. The company was acqui-hired. Its focus areas include Life Sciences, Cardiac and Vascular Disorders, Drugs and Heart Failure. Its legal entity is NITROMED, INC. Its competitors include AskBio, KBP BioSciences and Renova Therapeutics; 3 of its 3 listed competitors have raised funding.
Company details
NitoMed was founded in 1992 and is based in Lexington, United States. Operations focus on the biotechnology sector, where nitric oxide-based therapies for heart failure are developed. A technology platform called NitRx is utilized to deliver active NO drugs. The lead product, BiDil, serves as a nitric oxide therapy targeted at heart failure patients. Research and development efforts center on enhancing treatment efficacy through this approach.
- Headquarters Lexington, United States
- Stage Public
- SectorsHealthcare
- Website nitromed.com
- Acquired by Deerfield (Jan 2009)
- Legal Name Nitromed, Inc
- Total Equity Funding$43.4M (USD)
in 2 rounds
- Latest Funding Round$31.4M (USD), Series B
Jun 2001
- InvestorsMorgan Stanley
& 6 more
- Acquired byDeerfield
(Jan 2009)
Funding Insights of NitoMed
NitoMed has successfully raised a total of $43.4M across 2 strategic funding rounds. The most recent funding activity was a Series B round of $31.4 million completed in June 2001. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $43.4M
- Total Rounds 2
- Last Round Series B — $31.4M
- First Round $12M
(May 1998)
- Investors Count 6
All 2 funding rounds of NitoMed with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun 2001 | $31.4M | Series B | – | – | |
| May 1998 | $12M | Series A | – | – | – |
7 investors in total: 7 institutional.
Investors in NitoMed
NitoMed has secured backing from 7 investors, including venture fund and institutional investors. Prominent investors backing the company include Morgan Stanley, Boston University and Rho Capital Partners.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Early-stage tech startups are invested in by Rho Capital Partners. | rho.com | New York, United States | ||
| carecapital.com | ||||
| hcven.com | ||||
Venture capital firm backed by Johnson & Johnson | jnjinnovation.com/jjdc | Cambridge, United States | ||
Healthcare ecosystem is supported through investment and innovation by Deerfield. | deerfield.com | New York, United States | ||
Wealth management, investment advisory, and financial services are provided. | 1935 | morganstanley.com | New York, United States | |
Multiple courses and degrees are offered across diversified academic streams. | 1869 | bu.edu | United States |
Investor details for NitoMed
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Timeline of NitoMed
5 dated milestones of NitoMed across 17 years, from founding to its latest funding, stage changes and deals.
- Founded NitoMed is founded.
- Funding First funding round of $12.0M.
- Funding Latest funding round, Series B, of $31.4M.
- IPO Lists on the stock exchange (IPO).
- Exit Acquired by Deerfield.
Competitors of NitoMed
NitoMed has 3 listed competitors in our database, 3 of them funded. They include AskBio, KBP BioSciences and Renova Therapeutics.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| askbio.com | 2001 | Durham, United States | $235M | Gene and protein therapies are developed for treating various diseases. | ||
| kbpbio.com | 2007 | Princeton, United States | $76M | Therapeutics for kidney disease, infections, and respiratory conditions are developed. | ||
| renovatherapeutics.com | 2009 | San Diego, United States | $7.69M | Gene therapies for heart failure and diabetes are developed. |
Detailed competitors of NitoMed
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Top companies in Cardiac and Vascular Disorders
3 companies that operate in the same segment as NitoMed (Cardiac and Vascular Disorders) in United States, ranked by their profile score on The Company Check.
| Company | Description | Founded | Location | Total funding | Revenue | Employees |
|---|---|---|---|---|---|---|
Gene-editing therapies for coronary artery disease are developed. | 2018 | Cambridge, Massachusetts, United States | USD 215.5 M | 255 | ||
Cardiac monitoring devices and applications are provided for heart health. | 2010 | Mountain View, California, United States | USD 114.38 M | USD 6.18 M | 67 | |
Therapies for lowering low-density lipoprotein cholesterol levels are developed. | 1998 | Ann Arbor, Michigan, United States | USD 129.7 M | USD 332.31 M | 304 |
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Related news about Nitomed
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Frequently Asked Questions about NitoMed
NitoMed was founded in 1992 and raised its 1st funding round 6 years after it was founded.
NitoMed is headquartered in Lexington, United States. It is registered at Lexington, Kentucky, United States.
NitoMed is a funded company, having raised a total of $43.4M across 2 funding rounds to date. The company's 1st funding round was a Series A of $12M, raised on May 1998.
NitoMed was founded in 1992 and is based in Lexington, United States. Operations focus on the biotechnology sector, where nitric oxide-based therapies for heart failure are developed. A technology platform called NitRx is utilized to deliver active NO drugs. The lead product, BiDil, serves as a nitric oxide therapy targeted at heart failure patients. Research and development efforts center on enhancing treatment efficacy through this approach.
NitoMed's top competitors include AskBio, KBP BioSciences and Renova Therapeutics.
NitoMed has 7 investors. Key investors include Morgan Stanley, Boston University, Rho Capital Partners, Care Capital, and Healthcare Ventures.
NitoMed operates through Nitromed, Inc.
Yes. NitoMed was acquired by Deerfield in January 2009.