Nemysis Ltd, a Dublin, Ireland-based specialty pharma startup, completed a €1m seed funding round.
Led by Danilo Casadei Massari, Co-Founder and CEO, Nemysis is a startup tackling iron deficiency/anemia and gluten intolerance developing Food Supplements, Medical Matrix and Prescription products.
Its proprietary pipeline comprises:
i. A novel nano-particulate iron (IHAT: Iron Hydroxide Adipate Tartrate) for better homeostasis of the gut microbiome and optimal safety. IHAT is a mimic of dietary ferritin and natural digested non-haeme iron. Absorbed by endocytosis, the iron is directly freed into the enterocytes and does not redox cycle in the gut, thus preventing the onset of the commonly reported gastrointestinal side effect upon iron supplementation.
ii. A novel gastric and trypsin resistant glutenase (E40), for the oral enzymatic therapy of gluten intolerance in Celiac Disease patients and NCGS (Non Celiac Gluten Sensitivity) subjects at pH 3-5.5.
iii. A novel hyaluronic acid based and functionalised matrix aimed at protecting and deliver endoproteases in the small bowel, for the detoxification of gliadins and glutenins at the site of their immunotoxic stimulation, at pH 5.5-8
The company, which has registered four trademarks for its novel products in Iron Deficiency Anaemia and Gluten Intolerance, will use the funds to advance the development of its lead product candidate, a novel nano-particulate iron in-licensed by the UK’s-Medical Research Council (MRC-Life Arc). Funds will allow completion of Pharma GMP scale up and sub-chronic toxicity studies. As a first milestone, the iron product will be filed for Novel Food status with the EU Agency EFSA (European Food Safety Authority), to tackle the multibillion Iron Deficiency market as a Food Supplement with the Trademarks Nutrafer™ and Dietofer™. Market access is anticipated to start by late 2020 and, subject to further funding, Nemysis will pursue drug status under the trademark IDAX™.
Nemysis will also advance the development of its two products for Gluten Intolerance, forecasted to reach the market in 2021. The company plans to bring two new food supplements to market and then clinically prove their use in the significantly larger prescriptions market.