Noema Raises $112 Million to Advance CNS Disorders Pipeline
March 7, 2023
Rare Daily Staff
Swiss biotech Noema Pharma has closed $112 million (CHF 103 million) in a series B financing round to support continued development of its diversified pipeline focused on central nervous system disorders characterized by imbalanced neuronal networks that target orphan and mainstream central nervous system disorders.
Forbion and Jeito Capital led the financing with participation by new investors UPMC Enterprises and an undisclosed investor, and existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus to complete the round.
The proceeds of the Series B financing will be used to advance Noema Pharma’s clinical-stage assets including its lead compound basimglurant (NOE-101), an mGluR5 inhibitor which is being evaluated in phase 2b clinical trials for severe pain in trigeminal Nneuralgia (TN) and seizures in tuberous sclerosis complex (TSC).
Trigeminal neuralgia is a rare neurological condition that causes chronic and severe facial pain with an estimated 10,000 to 15,000 new cases diagnosed every year. Tuberous sclerosis complex is a rare genetic disease that causes non-cancerous tumors to grow in the brain and several areas of the body, including the spinal cord, nerves, eyes, lung, heart, kidneys, and skin.
Noema is also developing gemlapodect (NOE-105), a PDE10a inhibitor being evaluated in phase 2b clinical trials for Tourette syndrome and childhood onset fluency disorder (COFD) or stuttering; and NOE-115, a phase 2 ready triple reuptake inhibitor for atypical depression and binge eating disorder.
“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,” said Luigi Costa, CEO of Noema Pharma. “This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months.“
The Series B financing follows a CHF 54 million ($60 million) series A financing concluded in December 2020, led by Sofinnova Partners and Polaris Partners. Noema Pharma was founded in 2019 with a seed investment from Sofinnova Partners and four clinical stage assets in-licensed from Roche.
Photo: Luigi Costa, CEO of Noema Pharma
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