Maastricht, Netherlands-based Neuroplast, a biotech company developing autologous stem cell therapies for patients suffering from neurodegenerative diseases, announced that it has raised €10M in its Series B round of funding.
The round saw participation from Lumana Invest, Brightlands Venture Partners, LIOF, and the Innovation Credit from the Netherlands Enterprise Agency.
Marcel Kloosterman, Managing Partner at Brightlands Venture Partners (BVP), says, “The science behind Neuroplast’s technology platform is truly groundbreaking. A future in which patients can make smart use of their own cells to put a stop to further neurological damages and improve potential regeneration is getting closer and closer. For BVP it is a thrill to be part of that fascinating journey.”
Aims to help people who suffer from neurological disorders
Approximately 29,000 people across Europe and the US suffer from Acute Traumatic Spinal Cord Injury (TSCI) annually, which causes incurable impairment to the spinal cord and for which effective treatment is currently unavailable. The damage or trauma interrupts communication between the brain and the body regions below the site of injury.
Spinal cord injuries are mainly caused by accidents and – in most of the cases – result in life-long loss of control of motor functions and sensations. After the primary injury to the spinal cord, a cascade of events leads to progressive loss of tissue which may further deteriorate the patient’s prognosis. Usually, patients with such conditions experience life-long disability and dependence, with a negative impact on quality of life.
This is where Neuroplast wants to make a difference.
Founded in 2014, the Dutch stem cell technology company develops autologous stem cell treatments to improve and extend the lives of people who suffer from inflammation driven neurological disorders.
With the aim of giving back perspective to people that suffer from such conditions, Neuroplast has developed Neuro-Cells. It is a treatment that uses the patient’s own stem cells to prevent (further) loss of function during the acute phase after sustaining damage to the spinal cord to save mobility and independence.
Neuroplast’s Neuro-Cells are classified as an Advanced Therapy Medicinal Product (ATMP) tissue engineered product by the European Medicine Agency (EMA). They are produced under the ATMP Good Manufacturing Practice (GMP) guidelines.
Neuroplast has already completed a clinical Phase I trial in collaboration with Hospital Nacional de Parapléjicos in Spain that confirmed safety and tolerability without product-related adverse events. Currently, the company is preparing for an international multi-center randomised placebo-controlled Phase II study.
Capital utilisation
The proceeds from this round will help Neuroplast to advance its clinical development of a transformative treatment for Traumatic Spinal Cord Injury (TSCI). In addition, the funds will also enable the company to obtain conditional EMA market approval for its Neuro-Cells stem cell therapy.
Neuroplast also wants to explore the applicability of its Neuro-Cells technology platform to other therapeutic areas.
Vincent The, CFO at Neuroplast, says, “This funding enables us to complete the Neuro-Cells development pathway for TSCI. With the recent successful completion of our Phase I study, we now have both a good clinical as well as a solid financial foundation in place. This puts us in a great position to start exploring the broader potential of the Neuro-Cells technology platform for other primarily inflammation-driven neurological disorders. For these activities, we are seeking complementary investment.”
