Basel, Switzerland-based Noema Pharma, a clinical-stage biotech company, announced on Tuesday that it has raised CHF 103M (approximately €103.5M) in an oversubscribed Series B round of funding co-led by European healthcare-focused investment firms Forbion and Jeito Capital.
PMC Enterprises and an additional new investor also joined existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare, and Invus in the round.
As a part of the funding, Nanna Lüneborg from Forbion and Rachel Mears from Jeito Capital will join Noema Pharma’s Board of Directors.
The announcement comes three years after raising CHF 54M in a Series A funding round in December 2020.
Noema Pharma will use the funds to advance its clinical-stage assets, including its lead compound basimglurant (NOE-101), a mGluR5 inhibitor that is being evaluated in Phase 2b clinical trials for severe pain in Trigeminal Neuralgia (TN) and seizures in Tuberous Sclerosis Complex (TSC).
The Swiss firm 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 are excited to announce the successful completion of this oversubscribed Series B financing round and very pleased to have a world-class group of investors supporting our vision of bringing much-needed treatments to those living with debilitating central nervous system disorders,” says Luigi Costa, Chief Executive Officer of Noema Pharma.
“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. This financing comes at a key time for Noema Pharma as we look forward to extensive news flow over the next 24 months,“ says Costa.
Noema Pharma: Focus on central nervous system disorders
Led by Luigi Costa (CEO), Noema Pharma was founded in 2019 with seed investment from the venture capital firm Sofinnova Partners. It is a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders characterised by imbalanced neuronal networks.
The company has four mid-clinical-stage therapeutic product candidates in-licensed from Roche.
It also has three active Phase 2b clinical trials in highly undertreated CNS conditions such as Seizures in Tuberous Sclerosis Complex, Severe pain in Trigeminal Neuralgia, and Childhood Onset Fluency Disorder.
The company has completed a Phase 2a clinical trial in adult patients with Tourette Syndrome that is currently being extended with an adolescent cohort.
Noema Pharma has also completed preclinical validation studies in Atypical Depression and Binge Eating Disorders.
“One of the pillars of our investment strategy is to deploy capital in truly differentiated and innovative therapies with high unmet medical need,” says Rachel Mears, Partner at Jeito Capital.
“The research and clinical work being undertaken by Noema Pharma fit these criteria exactly. The dedication of the Noema team and the quality of their work is clear to see and positions the company as the upcoming global leader in its field,” she adds.
