New investor Jeito Capital joins current NMD Pharma investors.
Proceeds will be used to progress lead clinical programs, expand the number of target indications, and add new R&D capabilities in severe neuromuscular disorders.
Aarhus, Denmark, 15 February 2022 – NMD Pharma A/S, a clinical stage biotech company developing first in class, small molecule CLC-1 inhibitors for neuromuscular disorders, today announces that it has raised €35 million in a new financing. This financing was led by Jeito Capital and includes investments from current NMD Pharma investors INKEF Capital, Novo Holdings, Roche Venture Fund and Lundbeck Foundation. Jeito Capital has joined the NMD Pharma Board with Sabine Dandiguian, Managing Partner, as a Non-Executive Director.
Proceeds from the financing will be used to support the company as it progresses its lead candidate, NMD670, through completion of the ongoing Phase 2a proof-of-concept trial in patients with Myasthenia Gravis (MG).
The new financing will further enable NMD Pharma to expand its clinical programs into several neuromuscular diseases. Observational biomarker studies in patients with spinal muscular atrophy provides compelling evidence of significant neuromuscular dysfunction and provides a solid foundation to expand the clinical program with focus on spinal muscular atrophy1. Despite the availability of SMN restoring treatment options for SMA patients there continue to exit a significant unmet medical need for these patients.
The financing will also support expansion of NMD Pharma’s discovery pipeline against novel targets, all focusing on the treatment of neuromuscular diseases. NMD Pharma has built a strong platform and a high level of expertise specifically working on neuromuscular disease, and the new financing is another step towards building the pipeline to fully leverage these capabilities.
Thomas Holm Pedersen, Chief Executive Officer of NMD Pharma, said: “The closing of this financing round is a testament to the clear vision and ambition of NMD Pharma to become a leader in the field of neuromuscular diseases. It reflects decades of scientific work in the area and the unique potential of our people for growing our development pipeline. Furthermore, we are intrigued with the broad clinical utility of our CLC-1 inhibitor portfolio and look forward to continuing our efforts to provide treatments for patients suffering from neuromuscular diseases. We are pleased to welcome Jeito Capital with Sabine Dandiguian to our Board. Her network of industry contacts and strategic business advice will be invaluable to us as we grow and expand our business.”
Sabine Dandiguian, Managing Partner at Jeito Capital, added: “The knowledge and R&D process in the field of neuromuscular disorders is outstanding from the NMD Pharma management team. The potential of the pipeline including their lead candidate, NMD670, to treat symptoms of MG, is supported by compelling data. Jeito is proud to have contributed to this financing for NMD Pharma and I look forward to working with Thomas and his team to help support the company’s growth as it enters an exciting time in its development. Jeito is committed to investing in and working closely with companies such as NMD Pharma that are developing breakthrough treatments for patients living with diseases with high unmet needs.”
Roel Bulthuis, Managing Partner at INKEF Capital, added “This financing round is a testament to the great progress by NMD Pharma to date and represents the start of a new era for NMD Pharma and its ambition to develop new treatments for people living with neuromuscular disease globally. On behalf of the syndicate, we welcome Jeito Capital as a new investor and look forward to working closely alongside Sabine as a Board member.”
References
1. Arnold WD, Severyn S, Zhao S, et al Persistent neuromuscular junction transmission defects in adults with spinal muscular atrophy treated with nusinersen BMJ Neurology Open 2021;3:e000164. doi: 10.1136/bmjno-2021-000164