SOFINNOVA
7.3.2023 10:01:50 CET | Business Wire | Press release
Sofinnova Partners (“Sofinnova"), a leading European life sciences venture capital firm based in Paris, London, and Milan, today announced that Noema Pharma (“Noema”), has raised an oversubscribed CHF 103 million (approx. USD 112 million) Series B financing round. Sofinnova co-founded and seed financed Noema in 2019 with Dr. George Garibaldi and Luigi Costa. The company was established to advance clinical stage assets in-licensed from Roche.
Noema is a clinical-stage biopharmaceutical company focused on central nervous system disorders. Existing investors Sofinnova Partners, Polaris Partners, Gilde Healthcare and Invus welcomed new investors Forbion and Jeito Capital, as well as UPMC Enterprises and another undisclosed investor.
The proceeds of the Series B financing 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). The company is also developing gemlopodect (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.
Antoine Papiernik, Chairman and Managing Partner of Sofinnova Partners, said: “As co-founders and initial investors of Noema, we are incredibly proud of what the company has accomplished since its inception. Raising an oversubscribed funding round of this magnitude is a significant achievement that further reinforces our conviction that Noema can make a meaningful difference in the lives of patients suffering from debilitating CNS disorders. Noema is the perfect illustration of our core strategy and expertise: we nurture innovative companies centered on groundbreaking science and exceptional talent that have the potential to deliver transformative results for patients.”
Luigi Costa, Chief Executive Officer of Noema Pharma, said: "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. 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 (approx. USD 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.
About Sofinnova Partners
Sofinnova Partners is a leading European venture capital firm in life sciences, specializing in healthcare and sustainability. Based in Paris, London and Milan, the firm brings together a team of professionals from all over the world with strong scientific, medical and business expertise. Sofinnova Partners is a hands-on company builder across the entire value chain of life sciences investments, from seed to later-stage. The firm actively partners with ambitious entrepreneurs as a lead or cornerstone investor to develop transformative innovations that have the potential to positively impact our collective future.
Founded in 1972, Sofinnova Partners is a deeply established venture capital firm in Europe, with 50 years of experience backing over 500 companies and creating market leaders around the globe. Today, Sofinnova Partners has over €2.5 billion under management. For more information, please visit: sofinnovapartners.com.
About Noema Pharma
Noema Pharma (www.noemapharma.com) is a clinical-stage biotech company targeting debilitating central nervous system (CNS) disorders characterized by imbalanced neuronal networks. The Company has a well differentiated pipeline with four mid clinical-stage therapeutic product candidates in-licensed from Roche. Noema currently has 3 active Phase 2b clinical trials in highly undertreated CNS conditions: 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. The Company has also completed preclinical validation studies in Atypical Depression and Binge Eating Disorder. Noema Pharma was founded in 2019 by the leading venture capital firm Sofinnova Partners. Additional investors include Biomed Partners, Forbion, Gilde Healthcare, Invus, Jeito Capital, Polaris Partners, UPMC Enterprises, and an undisclosed investor.
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