RARE Daily

NMD Pharma Raises $39.7 Million to Advance Pipeline Targeting Rare Neuromuscular Disorders

February 15, 2022

Danish biotech NMD Pharma, a clinical stage company developing first in class, small molecule CLC-1 inhibitors for neuromuscular disorders, said that it has raised $39.7 million (€35 million) in a new financing.

Photo: Thomas Holm Pedersen, CEO of NMD Pharma

Jeito Capital led the financing round, which includes investments from current NMD Pharma investors INKEF Capital, Novo Holdings, Roche Venture Fund, and Lundbeck Foundation. Jeito Capital has joined the NMD Pharma Board with Sabine Dandiguian, managing partner, as a non-executive director.

Proceeds from the financing will be used to support the company as it progresses its lead candidate, NMD670, through completion of the ongoing phase 2a proof-of-concept trial in patients with myasthenia gravis.

Myasthenia gravis (MG) arises during adulthood as an autoimmune reaction, in most cases against the acetylcholine receptor on the surface of the muscle. The antibodies cause loss of this receptor from the muscle leading to failure of signal transmission from motor neurons to muscle fibers at the neuromuscular junction, and therefore failure to activate muscle contractions. Patients notice fluctuating weakness and tiredness, particularly towards the end of the day. Eyes are often affected with drooping eyelids or double vision, as well as more generalized weakness affecting a person’s ability to perform routine activities of daily life. Women are more prone to MG compared to men. Because of its fluctuating nature, it can be difficult to diagnose in some people, leading to lengthy delays in receiving treatment. Diagnosis is often made based on a history of fluctuating muscle weakness, a blood test for the antibody, and sometimes nerve stimulation tests in the hospital.

The new financing will also enable NMD Pharma to expand its discovery pipeline against novel neuromuscular targets and advance its clinical programs into several neuromuscular diseases. Observational biomarker studies in patients with spinal muscular atrophy provides compelling evidence of significant neuromuscular dysfunction and provides a solid foundation to expand the clinical program with a focus on spinal muscular atrophy, where despite the availability of SMN restoring treatment options, there continue to exist a significant unmet medical need for many SMA patients.

“The closing of this financing round is a testament to the clear vision and ambition of NMD Pharma to become a leader in the field of neuromuscular diseases,” said Thomas Holm Pedersen, CEO of NMD Pharma. “It reflects decades of scientific work in the area and the unique potential of our people for growing our development pipeline. Furthermore, we are intrigued with the broad clinical utility of our CLC-1 inhibitor portfolio and look forward to continuing our efforts to provide treatments for patients suffering from neuromuscular diseases.”

Author: Rare Daily Staff

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