NMD Pharma A/S, a clinical-stage biotech company focused on developing innovative treatments for neuromuscular diseases, has successfully secured €75 million (approximately $80 million) in a Series B financing round. The funding was spearheaded by existing investor Jeito Capital and saw participation from other current backers, including Novo Holdings, Lundbeckfonden BioCapital, INKEF Capital, and the Roche Venture Fund.
The core objective of NMD Pharma is the development of first-in-class small molecule inhibitors targeting the skeletal muscle-specific chloride ion channel (ClC-1). These inhibitors aim to enhance neuromuscular transmission, potentially restoring muscle function in various rare neuromuscular diseases. The lead candidate, NMD670, a ClC-1 inhibitor, will undergo three Phase 2 studies to assess its novel mechanism of ClC-1 inhibition in AChR and MuSK antibody-positive myasthenia gravis, spinal muscular atrophy, and Charcot-Marie-Tooth disease.
The substantial funds raised will not only support the completion of these critical Phase 2 studies but will also contribute to expanding NMD Pharma’s pipeline of ClC-1 inhibitor molecules. Additionally, the company plans to explore undisclosed targets for treating other neuromuscular diseases. The financing will facilitate the growth of NMD Pharma’s clinical and commercial operations in Denmark and the United States.
Thomas Holm Pedersen, CEO of NMD Pharma, expressed gratitude for the funding, stating that it will significantly propel the company toward becoming a late-stage clinical entity with a diverse pipeline of therapeutics for patients with neuromuscular diseases. He acknowledged the dedication of the team and thanked the investors, especially Jeito Capital, for leading the funding round.
Mike Heffernan, Chairman of the Board at NMD Pharma, emphasized the importance of this financing round, highlighting its pivotal role in supporting the company’s growth toward becoming a late-stage clinical player. He underscored the significance of the new capital and the expertise of the investors in building shareholder value.
Sabine Dandiguian, Managing Partner at Jeito Capital, expressed confidence in NMD Pharma’s unique expertise in a specialized area. Having witnessed the company’s growth since their initial investment, Dandiguian highlighted the positive clinical data as valuable validation. Jeito Capital is pleased to lead this new funding round and is committed to supporting NMD Pharma in advancing to the next chapter, with the shared ambition of providing life-transforming benefits to patients.