Noema Pharma raises 103 million Swiss francs from investors
Noema Pharma has raised a total of 103 million Swiss francs as part of an oversubscribed Series B financing round. The Basel-based biotech firm, which specializes in the area of debilitating diseases of the central nervous system, will use this fresh capital injection to advance its clinical-phase products.
Noema Pharma has successfully closed a Series B financing round. The biotech firm was able to raise gross proceeds in the amount of 103 million Swiss francs from both existing and new investors, further details of which can be found in a press release. The financing round was led by the European investment firms Forbion and Jeito Capital. Nanna Lüneborg from Forbion and Rachel Mears from Jeito Capital will now join the Board of Directors of Noema Pharma.
Noema Pharma specializes in debilitating diseases of the central nervous system. The proceeds from this financing round will be used to advance Noema’s clinical-stage product candidates. These include the lead product basimglurant for severe pain in trigeminal neuralgia and seizures related to tuberous sclerosis. Investigations into a drug for the treatment of Tourette’s syndrome and stuttering are also in progress.
Very encouraging clinical data
Nanna Lüneborg, General Partner at Forbion, believes this is the right time for an investment due to the fact that the company “has started to generate very encouraging clinical data in indications of high unmet need”. This applies in particular to the lead product basimglurant.
Noema Pharma was founded in 2019 following a seed investment from the Paris-based venture capital firm Sofinnova Partners and four clinical-stage products in-licensed by Roche. According to Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, the company is “incredibly proud” of everything that Noema Pharma has achieved since its inception. The current capital increase comes on the back of a Series A financing round closed in December 2020, in which the company raised a total of 54 million Swiss francs (converted from US dollars). This was also led by Sofinnova Partners together with Polaris Partners from the USA.