Company has raised $112m in order to develop therapies for central nervous system disorders
Noema Pharma – a company targeting debilitating central nervous system disorders – has announced that it has successfully completed a Series B financing round. The company has subsequently raised $112m from new and existing investors.
The critical round was led by leading European healthcare-focused investment firms Jeito Capital and Forbion. Meanwhile, UPMC Enterprises and an additional new investor joined existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus. Furthermore, Nanna Lüneborg from Forbion, and Rachel Mears from Jeito Capital, will join the Noema Pharma’s board of directors.
The financing will be used to develop Noema Pharma’s clinical-stage assets, including its compound basimglurant. The therapy is an mGluR5 inhibitor which is currently being studied in phase 2b clinical trials for severe pain in trigeminal neuralgia and seizures among patients with tuberous sclerosis complex.
Noema is also researching gemlapodect, a PDE10a inhibitor being evaluated in phase 2b clinical trials for Tourette Syndrome and childhood onset fluency disorder (also known as stuttering). The company is also developing NOE-115, a triple reuptake inhibitor for binge eating disorder and atypical depression.
Luigi Costa, chief executive officer of Noema Pharma, was optimistic about the difference the company’s treatments could have: “We are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders,”
He added: “We welcome our new investors who bring extensive expertise and knowledge of drug development and company building and add further strength to our robust investor base. This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months.”
Nanna Lüneborg, general partner at Forbion, concluded: “We believe this is the right time to invest as the company has started to generate very encouraging clinical data in indications of high unmet need and particularly with its lead asset basimglurant. We believe Noema to be at the forefront of a significant new wave of innovation in the field of central nervous system disorders which impact millions globally.”
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