PR90106

SINGAPORE, June18,2021/PRNewswire=KYODO JBN/--

Nuevocor, a preclinical-stage biotech company specializing in gene therapy for

cardiomyopathies, has announced the completion of an oversubscribed $24 million

Series A financing round. The round was co-led by EVX Ventures and Boehringer

Ingelheim Venture Fund (BIVF), with EDBI, Xora Innovation, SEEDS Capital and

other investors joining the syndicate.

The funds will be used to accelerate the preclinical development of its lead

programme, an adeno-associated virus (AAV) – based gene therapy for patients

suffering from dilated cardiomyopathy (DCM) due to mutations in the lamin A/C

(LMNA) gene. The company also plans to address other untreatable

cardiomyopathies using their novel target discovery platform.

Nuevocor's founding CEO, Dr Yann Chong Tan stated: "We are delighted to have

this strong group of investors join us in developing gene therapy-based

treatments that have the potential to restore cardiac function in diseased

hearts. The current standard of care for dilated cardiomyopathy only serves to

delay disease progression, and the only cure is to have a heart transplant. At

Nuevocor, we hope to give patients a new lease of life through our technology."

XQ Lin, Chairman of EVX Ventures, commented, "We are thrilled to co-lead

Nuevocor's Series A round alongside other top tier investors. Nuevocor is the

latest company to emerge from our venture creation ecosystem. We look forward

to supporting Nuevocor's path towards the clinic and bringing new medicines to

patients in need."

"Nuevocor is trying to apply a very innovative and challenging approach using

gene therapy for the treatment of genetically-driven, dilated cardiomyopathies.

We are excited to see that the company is exploiting the potential of genetic

suppressors to change the course of these diseases and hopefully to

significantly extend the life span and improve the life quality of DCM

patients," said Dr. Weiyi Zhang, Managing Director of BIVF Asia.

Headquartered in Singapore, Nuevocor is a privately held preclinical-stage

biopharmaceutical company focused on developing AAV gene therapy for the

treatment of genetically defined cardiac diseases with high unmet need.

Nuevocor's lead program, lamin A/C dilated cardiomyopathy (LMNA DCM) gene

therapy is based on decades of research into fundamental mechanisms underlying

LMNA-associated disease enabled by development of novel technologies on the

part of scientific co-founders Colin Stewart and Brian Burke of the Agency for

Science, Technology and Research (A*STAR). Together with AAV gene therapy and

cardiac disease modelling expertise of scientific co-founders Mark Kay from

Stanford University and Jianming Jiang from the National University of

Singapore respectively, Nuevocor is well-positioned to treat LMNA and other

genetic cardiomyopathies, amongst other cardiac diseases.

"Singapore has made long-term R&D investments to drive health outcomes and

economic growth, and to build the local biotech ecosystem. A*STAR is proud to

have supported our spin-off Nuevocor in translating excellent science from

bench to bedside so they can develop more effective gene therapies for

hard-to-treat cardiac diseases, for better patient outcomes," said Professor Ng

Huck Hui, Assistant Chief Executive, Biomedical Research Council, A*STAR.

About LMNA dilated cardiomyopathy

LMNA mutations are the #2 cause of familial DCM, affecting approximately 60,000

people in the US and EU alone. The mutation confers amongst the worst prognosis

of all DCM, with increased risk of arrhythmogenic DCM and sudden cardiac death.

Being an autosomal dominant disease characterized by gain-of-function of the

mutant Lmna protein, conventional gene replacement therapies would be

ineffective for LMNA DCM. Nuevocor's innovative approach to gene therapy

circumvents this roadblock.

About EVX Ventures

EVX Ventures is a global VC that builds, incubates, and invests in biotech

companies. With a focus on disruptive therapeutics platform technologies and

novel therapeutic modalities, they invest in global technologies to redefine

the therapeutics of tomorrow. Learn more at www.evx.ventures

About Boehringer Ingelheim Venture Fund

Created in 2010, the Boehringer Ingelheim Venture Fund GmbH (BIVF) invests in

groundbreaking therapeutics-focused biotechnology companies to drive innovation

in biomedical research. BIVF is searching for significant enhancements in

patient care through pioneering science and its clinical translation by

building long-term relationships with scientists and entrepreneurs. BIVF's

focus is to target unprecedented therapeutic concepts addressing high medical

needs in immuno-oncology, regenerative medicine, infectious diseases and

digital health. For more information, visit

www.boehringer-ingelheim-venture.com.

Contact:

info@nuevocor.com

SOURCE: Nuevocor