Noema Pharma, a Swiss clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders, has closed an oversubscribed Series B financing round, raising CHF 103 million ($112 million) from new and existing investors.
The round was co-led by leading European healthcare focused investment firms Forbion and Jeito Capital. UPMC Enterprises and an additional new investor joined existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus to complete the round. Following the close of the Series B financing, Nanna Lüneborg from Forbion and Rachel Mears from Jeito Capital will join the Board of Directors of Noema Pharma.
The proceeds will be used to advance Noema Pharma’s clinical-stage assets, including its lead compound basimglurant (NOE-101), an 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).
Noema Pharma 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,” said 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.“
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.
Last year, the company received US Food and Drug Administration (FDA) Fast Track designation for mGluR5 inhibitor basimglurant (NOE-101).