NMD Pharma raises $47M in series A investment round from INKEF and existing investors, to advance treatments of neuromuscular disorders
NMD Pharma, an Århus, Denmark-based biotech company focused on developing novel first in class therapies for severe neuromuscular disorders, announced securing €38 million ($47M) Series A financing.
The round, one of the largest Series A financings in Scandinavia, was backed by a top tier international syndicate led by INKEF Capital and including new investor Roche Venture Fund and existing investors Novo Seeds and Lundbeckfonden Emerge. The funding will support development through clinical proof-of-concept of two programs that target orphan neurological disorders and in-hospital critical care indications characterized by muscle weakness due to neuromuscular transmission deficits.
NMD Pharma, incubated by Novo Seed in 2014 at Aarhus university, was founded as a busines in 2016, with a EUR 2.7M investment from Novo Seeds, Lundbeckfonden Emerge and Capnova.
The company is developing proprietary, first in class small molecule inhibitors of the muscle specific chloride ion channel – the ClC-1 ion channel. The team has demonstrated that ClC-1 inhibition can strengthen neuromuscular transmission and ultimately skeletal muscle function in both fast and slow-twitch muscle fibers. This novel treatment approach has demonstrated compelling data across several orphan neuromuscular diseases, including Myasthenia Gravis (MG) and Amyotrophic Lateral Sclerosis (ALS), and as an effective and safe treatment for muscle weakness in critical care indications such as a reversal agent after neuromuscular blockade. The programs are based on deep insights into the mechanism of action of CLC-1 inhibition, coherent cross-species data as well as human genetics.