The company develops functional treatments for specific cardiomyopathies and also attracted the resources of EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital e SEEDS Capital.
Nuevocor, a Singapore’s biotech developer of functional treatments for specific cardiomyopathies with an office in USA and with development plans in Europe, said it attracted 45 million US Dollars from lead investors Angelini Ventures and Kurma Partners, while EDBI, ClavystBio, Boehringer Ingelheim Venture Fund, Highlight Capital, and SEEDS Capital poured relevant resources in this Series B round (press release).
In 2021, the company secured a Series A round of 24 million that EVX Ventures and Boehringer Ingelheim Venture Fund (BIVF) (lead investors), EDBI, Xora Innovation, SEEDS Capital, and others joined (press release).
Elia Stupka, Angelini Ventures, and Kurma Partners’s Amanda Gett-Chaperot will join the board of Nuevocor.
The new investment will support the first phase 1/2 clinical trial to evaluate the safety and efficacy of the lead drug candidate, NVC-001, targeted at dilated cardiomyopathy associated with LMNA gene mutations (LMNA-DCM). The clinical trial will be open-label, multicentre and single ascending dose.
Nuevocor approach aims to intervene, after having identified the genetic causes of cardiomyopathies through the platform, directly on the pathways underlying the disease, blocking the transmission of aberrant signals that contribute to the pathogenesis of the disease, thus not limiting itself to the replacement of individual mutated genes, as is the case with traditional gene therapy. Mechanobiology, which underlies this approach, combines biology and engineering in the study of cells and is based on the observation that mechanical forcesalso regulate various cellular activities.
Yann Chong Tan, MD, ceo and co-founder of Nuevocor, said: “We are delighted to have achieved this significant funding milestone and to be able to build global partnerships with a group of experienced life science investors. Their support will enable Nuevocor to continue its strong momentum and bring NVC-001 to the clinic. There is a huge unmet need for people with cardiomyopathies and, with the help of our effective mechanobiology platform, we continue to build our pipeline of targeted, breakthrough drugs for these patients.”
Amanda Gett-Chaperot, a director of Kurma Partners, added: “Nuevocor is providing new hope to a significant population of patients with cardiovascular disease who currently lack treatment options by acting directly on the underlying causes of the disease. The burden of cardiomyopathies is significant, and Kurma is excited to join Nuevocor, investing from the new Biofund IV to create significant value through the treatment of these serious diseases.”.
Elia Stupka, a managing director of Angelini Ventures, said: “Our investment in Nuevocor represents a strategic expansion in the cardiovascular field, addressing an important unmet medical need with a truly innovative approach. The ability to target the pathways underlying genetic dilated cardiomyopathy, rather than simply replacing mutated genes makes Nuevocor’s mechanistic gene therapy platform particularly attractive. This approach has the potential to help thousands of patients currently facing the prospect of multiple heart transplants during their lifetime. By intervening at the mechanobiological level to block harmful signalling pathways, Nuevocor’s technology offers hope for a unique treatment that could dramatically improve patients’ quality of life while significantly reducing the enormous burden on healthcare systems. As Nuevocor advances towards clinical trials, we are proud to join its board of directors and support its mission to transform treatment paradigms for this disease.”
Nuevocor is the first Asian investment for Angelini Industries and allows the fund to step in the cardiovascular health therapeutic area.
Angelini Ventures is born in 2022 and set a 300 million investments target (see here a previous post by BeBeez). The fund already poured resources in the region of 100 million in 19 targets such as Cour Pharmaceuticals, Noctrix Health, Nouscom, Avation Medical, Pretzel Therapeutics, Cadence Neuroscience, Freya Biosciences, Nobi, and others.
Angelini Ventures is born in 2022 and set a 300 million investment target (see here a previous post by BeBeez). The fund already allocated 100 million in 19 companies such as Cour Pharmaceuticals, Noctrix Health, Nouscom, Avation Medical, Pretzel Therapeutics, Cadence Neuroscience, Freya Biosciences, Neumirna Therapeutics, Nobi, Vantis, and others.
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