Hoba Therapeutics, a Copenhagen, Denmark-based biotech company dedicated to developing novel therapeutic proteins for patients living with chronic neuropathic pain and hearing loss, raised EUR 23M in Series A funding.
The round was led by Indaco Venture Partners and Medical Incubator Japan, and included investments from current investors Novo Holdings, Eir Ventures, and the Export and Investment Fund of Denmark (EIFO).
The company intends to use the funds to advance HB-086 through late pre-clinical development to the completion of Phase 1 clinical studies in patients for painful Chemotherapy-Induced Peripheral Neuropathy (CIPN).
Led by CEO Torsten M. Madsen, Hoba Therapeutics is a biotech developing restorative treatments for chronic pain disorders and hearing loss. The company is advancing HB-086 for the treatment of chronic neuropathic pain. HB-086 is a non-opioid compound with a mechanism of action targeting the peripheral nervous system to reverse neuropathic pain and the underlying cause of the disease. The second drug candidate HB-097 is a pharmacological treatment for sensorineural hearing loss. Preclinical data of HB-097 show both a preventive effect of hearing loss by protecting nerve cells and a regenerative effect by reversal of already induced damage.
Hoba Therapeutics was founded in 2016 by Novo Holdings and Borean Innovation. The company received the Accelerator grant from the European Innovation Council in 2021 and the Grand Solution grant from Innovation Fund Denmark in 2018.
FinSMEs
11/12/2023