Nuevocor, a Singapore-headquartered IND-stage biotechnology company developing cures for cardiomyopathies driven by aberrant mechanobiology, announced the successful completion of US$45 million Series B financing. The round was co-led by Kurma Partners and Angelini Ventures, with significant participation from existing investors EDBI, ClavystBio and Boehringer Ingelheim Venture Fund, alongside Highlight Capital and SEEDS Capital. Nuevocor is pleased to welcome Amanda Gett-Chaperot, PhD (Kurma Partners) and Elia Stupka, PhD (Angelini Ventures) to its Board of Directors.
The new investment will support a first-in-human, open-label, multicenter, ascending single-dose Phase 1/2 clinical trial of NVC-001 in patients with LMNA DCM, with clinical trial sites across the U.S. and Europe. Additionally, the company will establish an office in Paris, France, to support clinical development and bring Singapore innovation to patients globally.
LMNA DCM is a genetic heart condition caused by mutations in the LMNA gene, leading to the weakening and enlargement of the heart muscle, ultimately resulting in a rapid progression toward end-stage heart failure. LMNA DCM is estimated to affect more than 100,000 patients in the U.S. and Europe. NVC-001 and other pipeline assets are derived from Nuevocor’s proprietary PrOSIATM mechanobiology platform, which pinpoints the functional root-cause of many cardiomyopathies.
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“We are delighted to secure this significant financing milestone to build a global company with such an experienced syndicate of international life science investors,” said Dr. Yann Chong Tan, PhD, CEO and Co-Founder of Nuevocor. “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.”
SOURCE: PRNewsWire
