To develop novel therapies for cardiomyopathy, Nuevocor raised $45 M Series B funding
The Singapore-based IND-stage biotechnology startup Nuevocor, which is working to find treatments for cardiomyopathies caused by aberrant mechanobiology, has successfully closed a $45 million Series B funding round.
Nuevocor said in a statement on Tuesday that Kurma Partners and Angelini Ventures co-led the round, with notable involvement from current investors EDBI, ClavystBio, and Boehringer Ingelheim Venture Fund in addition to Highlight Capital and SEEDS Capital.
Also joining Nuevocor’s Board of Directors are Elia Stupka, PhD (Angelini Ventures) and Amanda Gett-Chaperot, PhD (Kurma Partners).
With clinical trial sites spread across the United States and Europe, the new investment will fund a first-in-human, open-label, multicenter, ascending single-dose Phase 1/2 clinical trial of NVC-001 in patients with LMNA DCM.
In order to promote clinical development and introduce Singaporean innovation to patients worldwide, the company will also open an office in Paris, France.
Mutations in the LMNA gene cause LMNA DCM, a genetic heart condition that weakens and enlarges the heart muscle, ultimately causing end-stage heart failure to progress quickly.
Over 100,000 patients are thought to be impacted by LMNA DCM in the US and Europe. The PrOSIATM mechanobiology platform, which is exclusive to Nuevocor, identifies the functional root cause of numerous cardiomyopathies and is the source of NVC-001 and other pipeline assets.
“We are delighted to secure this significant financing milestone to build a global company with such an experienced syndicate of international life science investors,
“The continued strong support from insiders and the addition of new investors will enable Nuevocor to continue its strong momentum and advance NVC-001 into the clinic. This is an example of how Singapore is bringing transformative innovation to the rest of the world,” said Dr. Yann Chong Tan, PhD, CEO and Co-Founder of Nuevocor.
With its headquarters in Singapore, an office in the United States, and plans to expand to Europe, Nuevocor is an IND-stage biotechnology company that is creating innovative treatments for genetic cardiomyopathies caused by aberrant mechanobiology.
By addressing the underlying cause of disease, the company’s novel approach—made possible by our exclusive PrOSIATM mechanobiology platform—goes beyond the constraints of conventional gene replacement therapy, which treats individual gene mutations, to treat defects in shared disease pathways across multiple cardiomyopathies.
By treating genetic cardiomyopathies that cannot be treated with gene replacement therapy and lack viable treatment alternatives, the company is first-in-disease.
