Polyneuron Pharmaceuticals AG, a Basel, Switzerland-based developer of a new class of biodegradable glycopolymer treatments for autoimmune diseases, closed a CHF3.1m financing, following the receipt of a second tranche.
The financing was led by EVA Basel and included the Zürcher Kantonalbank and private investors.
The proceeds will be used to advance its lead asset, PN-1007, to clinical development for the treatment of the rare nervous system disease, anti-MAG neuropathy, and advance additional applications of its Antibody-Catch™ technology platform.
Founded as a University Basel spin-off in 2014 by pharmaceutical researchers Dr. Ruben Herrendorff (CEO) and Dr. Pascal Hänggi (CSO), Prof. Beat Ernst, an expert in carbohydrate-based drug discovery, and neurologist Prof. Dr. med. Andreas J. Steck, an expert in autoimmune disorders of the nervous system, Polyneuron has developed the Antibody-Catch™ technology platform, which enables the chemical design of injectable, biodegradable glycopolymers to eliminate autoimmune disease-causing autoantibodies, while leaving the immune system intact.
Concurrent with the financing, Gerhard Müller joined as Chairman and Michael Wacker as Chief Business Officer.
The company is headquartered at the Basel Inkubator, Switzerland.