Polyneuron Pharmaceuticals AG, a Basel, Switzerland-based clinical stage developer of a new class of antigen-specific polymers for the treatment of patients with serious autoimmune diseases, raised a CHF 14m extension of the Series A, bringing the total to CHF 36.5m.
HBM Healthcare Investments has joined the consortium of investors in the Series A, led by Sofinnova Partners, and which included New Enterprise Associates (NEA) and other private investors. Concurrent with the financing, Dr Emil Bujak from HBM Healthcare Investments has been appointed to the Board of Directors.
The company will use the proceeds to advance its lead product candidate PN-1007, a potential treatment for anti-MAG neuropathy, a serious nervous system disease with a high unmet medical need, through Phase I/IIa clinical development. Clinical studies with PN-1007 in patients are scheduled to begin before the end of 2020. The funding will also progress a second program, PN-1018, to the clinical trial application (CTA) approval stage. PN-1018 is being studied in Guillain-Barré Syndrome and Multifocal Motor Neuropathy. Polyneuron will also use the proceeds to accelerate preclinical development of its Antibody-Catch™ product portfolio in new indications, with a focus on antibody-mediated renal and hematological diseases.
Led by Ruben Herrendorff, Ph.D., CEO and co-founder, Polyneuronis is pioneering a novel therapeutic approach for the effective and safe treatment of antibody-mediated immune diseases. The company’s Antibody-Catch™ technology platform enables the chemical design of injectable polymers that are able to selectively eliminate pathological antibodies in an antigen-specific manner, while leaving the rest of the immune system intact. Polyneuron was founded as a University of Basel, Department of Pharmaceutical Sciences, spin-off in 2014 by Dr. Ruben Herrendorff (CEO), Dr. Pascal Hänggi (CSO), Prof. Beat Ernst and Prof. Dr. med. Andreas J. Steck. The company is headquartered at the Stücki Park in Basel, Switzerland.