Muna Therapeutics, a Copenhagen, Denmark-based biopharmaceutical company, raised US$73M in Series A funding.
The round was led by Novo Holdings, Sofinnova Partners, Droia Ventures and LSP Dementia Fund with participation from Polaris Partners, Polaris Innovation Fund, Sanofi Ventures, V-Bio Ventures and VIB.
The company intends to use the funds to advance small molecule programs focused on repairing neuronal dysfunction, resolving neuroinflammation and restoring neuroprotection and resilience to disease to Investigational New Drug (IND) applications.
Founded in 2020 by progranulin pathway thought leader Professor Simon Glerup and his team from Aarhus University, Denmark, in collaboration with Novo Seeds, the early-stage investment team of Novo Holdings, Muna Therapeutics is a private biopharmaceutical company that discovers and develops therapies that slow or stop devastating neurodegenerative diseases including Alzheimer’s, Frontotemporal Dementia and Parkinson’s.
Muna Therapeutics emerged as a result of Novo Seeds’ company creation efforts, where the Novo team and its Entrepreneurs-in-Residence (EiRs) help build new biotech companies based on groundbreaking new science.
The company joined forces with K5 Therapeutics, co-founded in 2020 by Professor Bart De Strooper from VIB-KU Leuven Belgium, a pioneer in neurodegenerative diseases research, with investors Droia Ventures and VIB. The combined company – Muna Therapeutics – will be based in Copenhagen and Leuven and is led by seasoned pharma executives CEO Rita Balice-Gordon and COO Anders Hinsby, both EiRs of Novo Seeds.
FinSMEs
09/07/201