NMD Pharma, an Aarhus, Denmark-based clinical-stage biotechnology company for neuromuscular diseases, raised €75M in Series B funding.
The round was led by Jeito Capital and included investments from other current investors Novo Holdings, Lundbeckfonden BioCapital, INKEF Capital, and the Roche Venture Fund.
Led by CEO Thomas Holm Pedersen, NMD Pharma is a clinical-stage biotech company developing a platform of small molecule therapies selectively targeting the skeletal muscle chloride ion channel (ClC-1) for the treatment of severe neuromuscular disorders. The company, incorporated as a spin-off from Aarhus University with a focus on regulation of skeletal muscle excitability under physical activity, has built a muscle electrophysiology platform leveraging the know-how of muscle physiology and muscular disorders, small molecule modulators, enabling technologies and tools as well as in vivo pharmacology models for discovering and developing proprietary modulators of neuromuscular function.
Proceeds from the financing will be used to complete three Phase 2 studies with NMD670, the company’s lead ClC-1 inhibitor. The three studies will evaluate the novel mechanism of ClC-1 inhibition in AChR and MuSK antibody positive myasthenia gravis, spinal muscular atrophy, and Charcot-Marie-Tooth disease, respectively. Furthermore, NMD Pharma will continue to expand its pipeline of ClC-1 inhibitor molecules and pursue undisclosed targets for the treatment of other neuromuscular diseases. The new funds will also be used to expand the company’s clinical and commercial operations in Denmark and in the US.
FinSMEs
16/11/2023